0001551152-24-000040 | 10-Q | XBRL Viewer

Restructuring Plans

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

AbbVie continuously evaluates its operations to identify opportunities to optimize its manufacturing and R&D operations, commercial infrastructure and administrative costs and to respond to changes in its business environment. As a result, AbbVie management periodically approves individual restructuring plans to achieve these objectives. As of September 30, 2024 and 2023, no such plans were individually significant. Restructuring charges were $30 million for the three months and $94 million for the nine months ended September 30, 2024 and $10 million for the three months and $55 million for the nine months ended September 30, 2023. These charges are recorded in cost of products sold, R&D expense and SG&A expense in the condensed consolidated statements of earnings based on the classification of the affected employees or the related operations.

The following table summarizes the cash activity in the restructuring reserve for the nine months ended September 30, 2024:


(in millions)
Accrued balance as of December 31, 2023	$	196
Restructuring charges	84
Payments and other adjustments	(119)
Accrued balance as of September 30, 2024	$	161

Allergan Integration Plan

Following the closing of the Allergan acquisition, AbbVie implemented an integration plan designed to reduce costs, integrate and optimize the combined organization and incurred total cumulative charges of $2.5 billion through December 31, 2023. These costs consisted of severance and employee benefit costs (cash severance, non-cash severance including accelerated equity award compensation expense, retention and other termination benefits) and other integration expenses. The Allergan integration plan was substantially complete as of December 31, 2023 and the remaining accrual as of September 30, 2024 is not significant.

The following table summarizes the prior year charges associated with the Allergan acquisition integration plan:


(in millions)	Three Months Ended September 30, 2023		Nine Months Ended September 30, 2023
Cost of products sold	$	20		$	66
Research and development	1			2
Selling, general and administrative	39			134
Total charges	$	60		$	202

Licensing, Acquisitions and Other Arrangements (Tables)

9 Months Ended

Aug. 01, 2024

Feb. 12, 2024

Sep. 30, 2024

Licensing, Acquisitions, and Other Arrangements

Schedule of fair value of assets acquired and liabilities assumed

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:


(in millions)
Assets acquired and liabilities assumed
Cash and equivalents	$	361
Short-term investments	382
Prepaid expenses and other current assets	9
Property and equipment, net	25
Investments	121
Intangible assets, net	8,100



Other noncurrent assets	31
Current portion of long-term debt	(400)
Accounts payable and accrued liabilities	(100)
Long-term debt	(246)
Deferred income taxes	(1,292)
Other long-term liabilities	(31)
Total identifiable net assets	6,960
Goodwill	1,702
Total assets acquired and liabilities assumed	$	8,662

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:


(in millions)
Assets acquired and liabilities assumed
Cash and equivalents	$	591
Accounts receivable	171
Inventories	211
Prepaid expenses and other current assets	40
Property and equipment, net	7
Intangible assets, net
Developed product rights	7,200
License agreements	125
Acquired in-process research and development	1,280
Other noncurrent assets	273
Current portion of long-term debt	(99)
Accounts payable and accrued liabilities	(312)
Deferred income taxes	(899)
Other long-term liabilities	(47)
Total identifiable net assets	8,541
Goodwill	1,249
Total assets acquired and liabilities assumed	$	9,790

Schedule of unaudited pro forma combined results

The following table presents the unaudited pro forma combined results of AbbVie, ImmunoGen and Cerevel Therapeutics for the three and nine months ended September 30, 2024 and 2023 as if the acquisitions of ImmunoGen and Cerevel Therapeutics had occurred on January 1, 2023:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Net revenues	$	14,460	$	14,040	$	41,287	$	40,263
Net earnings	1,714		1,400		4,583		2,309

Schedule of Research and Development Assets Acquired Other than Through Business Combination

The following table summarizes acquired IPR&D and milestones expense:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Upfront charges	$	82	$	44	$	1,088	$	396
Development milestones	—		22		95		100
Acquired IPR&D and milestones	$	82	$	66	$	1,183	$	496

Equity - Stock Repurchase Program (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Feb. 16, 2023
Equity, Class of Treasury Stock
Payment for shares repurchased	$ 17	$ 4	$ 1,350	$ 1,969
Remaining share repurchase authorization amount	$ 3,900		$ 3,900
December 2018 Stock Repurchase Authorization
Equity, Class of Treasury Stock
Increase to existing stock repurchase authorization					$ 5,000
Shares repurchased (in shares)			5	10
Payment for shares repurchased			$ 959	$ 1,600

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Total net revenues	$ 14,460	$ 13,927	$ 41,232	$ 40,017
Collaborative Arrangement, Revenue Not from Contract with Customer, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net revenues	Total net revenues	Total net revenues	Total net revenues
All other
Disaggregation of Revenue
Net revenues	$ 726	$ 782	$ 2,280	$ 2,214
Immunology \| Humira
Disaggregation of Revenue
Net revenues	2,227	3,547	7,311	11,100
Immunology \| Humira \| United States
Disaggregation of Revenue
Net revenues	1,765	3,020	5,896	9,420
Immunology \| Humira \| International
Disaggregation of Revenue
Net revenues	462	527	1,415	1,680
Immunology \| Skyrizi
Disaggregation of Revenue
Net revenues	3,205	2,126	7,940	5,369
Immunology \| Skyrizi \| United States
Disaggregation of Revenue
Net revenues	2,778	1,875	6,774	4,648
Immunology \| Skyrizi \| International
Disaggregation of Revenue
Net revenues	427	251	1,166	721
Immunology \| Rinvoq
Disaggregation of Revenue
Net revenues	1,614	1,110	4,137	2,714
Immunology \| Rinvoq \| United States
Disaggregation of Revenue
Net revenues	1,170	801	2,912	1,895
Immunology \| Rinvoq \| International
Disaggregation of Revenue
Net revenues	444	309	1,225	819
Hematologic Oncology \| Imbruvica
Disaggregation of Revenue
Net revenues	828	908	2,499	2,693
Hematologic Oncology \| Imbruvica \| United States
Disaggregation of Revenue
Net revenues	618	678	1,823	1,982
Hematologic Oncology \| Imbruvica \| International
Disaggregation of Revenue
Collaboration revenues	210	230	676	711
Hematologic Oncology \| Venclexta
Disaggregation of Revenue
Net revenues	677	590	1,928	1,699
Hematologic Oncology \| Venclexta \| United States
Disaggregation of Revenue
Net revenues	340	281	921	811
Hematologic Oncology \| Venclexta \| International
Disaggregation of Revenue
Net revenues	337	309	1,007	888
Hematologic Oncology \| Epkinly
Disaggregation of Revenue
Net revenues	43	14	106	14
Collaboration revenues	31	14	82	14
Hematologic Oncology \| Epkinly \| International
Disaggregation of Revenue
Net revenues	12	0	24	0
Hematologic Oncology \| Elahere \| United States
Disaggregation of Revenue
Net revenues	139	0	331	0
Aesthetics \| Botox Cosmetic
Disaggregation of Revenue
Net revenues	671	620	2,033	1,964
Aesthetics \| Botox Cosmetic \| United States
Disaggregation of Revenue
Net revenues	414	388	1,253	1,217
Aesthetics \| Botox Cosmetic \| International
Disaggregation of Revenue
Net revenues	257	232	780	747
Aesthetics \| Juvederm Collection
Disaggregation of Revenue
Net revenues	258	321	898	1,044
Aesthetics \| Juvederm Collection \| United States
Disaggregation of Revenue
Net revenues	105	116	349	363
Aesthetics \| Juvederm Collection \| International
Disaggregation of Revenue
Net revenues	153	205	549	681
Aesthetics \| Other Aesthetics
Disaggregation of Revenue
Net revenues	310	298	947	915
Aesthetics \| Other Aesthetics \| United States
Disaggregation of Revenue
Net revenues	272	255	828	785
Aesthetics \| Other Aesthetics \| International
Disaggregation of Revenue
Net revenues	38	43	119	130
Neuroscience \| Botox Therapeutic
Disaggregation of Revenue
Net revenues	848	748	2,410	2,215
Neuroscience \| Botox Therapeutic \| United States
Disaggregation of Revenue
Net revenues	708	626	1,988	1,827
Neuroscience \| Botox Therapeutic \| International
Disaggregation of Revenue
Net revenues	140	122	422	388
Neuroscience \| Vraylar
Disaggregation of Revenue
Net revenues	875	751	2,343	1,970
Neuroscience \| Vraylar \| United States
Disaggregation of Revenue
Net revenues	873	750	2,338	1,967
Neuroscience \| Vraylar \| International
Disaggregation of Revenue
Net revenues	2	1	5	3
Neuroscience \| Duodopa
Disaggregation of Revenue
Net revenues	111	118	339	353
Neuroscience \| Duodopa \| United States
Disaggregation of Revenue
Net revenues	24	25	72	74
Neuroscience \| Duodopa \| International
Disaggregation of Revenue
Net revenues	87	93	267	279
Neuroscience \| Ubrelvy
Disaggregation of Revenue
Net revenues	269	233	703	581
Neuroscience \| Ubrelvy \| United States
Disaggregation of Revenue
Net revenues	261	230	685	574
Neuroscience \| Ubrelvy \| International
Disaggregation of Revenue
Net revenues	8	3	18	7
Neuroscience \| Qulipta
Disaggregation of Revenue
Net revenues	176	132	457	294
Neuroscience \| Qulipta \| United States
Disaggregation of Revenue
Net revenues	168	131	442	292
Neuroscience \| Qulipta \| International
Disaggregation of Revenue
Net revenues	8	1	15	2
Neuroscience \| Other Neuroscience
Disaggregation of Revenue
Net revenues	84	61	238	210
Neuroscience \| Other Neuroscience \| United States
Disaggregation of Revenue
Net revenues	54	55	172	195
Neuroscience \| Other Neuroscience \| International
Disaggregation of Revenue
Net revenues	30	6	66	15
Eye Care \| Ozurdex
Disaggregation of Revenue
Net revenues	119	120	374	354
Eye Care \| Ozurdex \| United States
Disaggregation of Revenue
Net revenues	33	34	102	107
Eye Care \| Ozurdex \| International
Disaggregation of Revenue
Net revenues	86	86	272	247
Eye Care \| Lumigan/Ganfort
Disaggregation of Revenue
Net revenues	116	91	310	340
Eye Care \| Lumigan/Ganfort \| United States
Disaggregation of Revenue
Net revenues	58	28	129	142
Eye Care \| Lumigan/Ganfort \| International
Disaggregation of Revenue
Net revenues	58	63	181	198
Eye Care \| Alphagan/Combigan
Disaggregation of Revenue
Net revenues	62	70	170	206
Eye Care \| Alphagan/Combigan \| United States
Disaggregation of Revenue
Net revenues	26	30	54	90
Eye Care \| Alphagan/Combigan \| International
Disaggregation of Revenue
Net revenues	36	40	116	116
Eye Care \| Restasis
Disaggregation of Revenue
Net revenues	21	117	110	308
Eye Care \| Restasis \| United States
Disaggregation of Revenue
Net revenues	8	104	70	265
Eye Care \| Restasis \| International
Disaggregation of Revenue
Net revenues	13	13	40	43
Eye Care \| Other Eye Care
Disaggregation of Revenue
Net revenues	207	207	632	622
Eye Care \| Other Eye Care \| United States
Disaggregation of Revenue
Net revenues	115	114	351	334
Eye Care \| Other Eye Care \| International
Disaggregation of Revenue
Net revenues	92	93	281	288
Other Key Products \| Mavyret
Disaggregation of Revenue
Net revenues	302	370	1,020	1,121
Other Key Products \| Mavyret \| United States
Disaggregation of Revenue
Net revenues	147	167	458	531
Other Key Products \| Mavyret \| International
Disaggregation of Revenue
Net revenues	155	203	562	590
Other Key Products \| Creon \| United States
Disaggregation of Revenue
Net revenues	338	305	995	892
Other Key Products \| Linzess/Constella
Disaggregation of Revenue
Net revenues	234	288	721	825
Other Key Products \| Linzess/Constella \| United States
Disaggregation of Revenue
Net revenues	225	279	693	799
Other Key Products \| Linzess/Constella \| International
Disaggregation of Revenue
Net revenues	$ 9	$ 9	$ 28	$ 26

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	4,000,000,000	4,000,000,000
Common stock, issued (in shares)	1,831,415,039	1,823,046,087
Treasury Stock, Common, Shares	64,310,426	57,105,354

Segment Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information

Segment InformationAbbVie operates as a single global business segment dedicated to the research and development, manufacturing, commercialization and sale of innovative medicines and therapies. This operating structure enables the Chief Executive Officer, as chief operating decision maker (CODM), to allocate resources and assess business performance on a global basis in order to achieve established long-term strategic goals. Consistent with this structure, a global research and development and supply chain organization is responsible for the discovery, manufacturing and supply of products. Commercial efforts that coordinate the marketing, sales and distribution of these products are organized by geographic region or therapeutic area. All of these activities are supported by a global corporate administrative staff. The determination of a single business segment is consistent with the consolidated financial information regularly reviewed by the CODM for purposes of assessing performance, allocating resources and planning and forecasting future periods.

The following table details AbbVie’s worldwide net revenues:


		Three months ended September 30,				Nine months ended September 30,

(in millions)		2024		2023		2024		2023
Immunology
Humira	United States	$	1,765	$	3,020	$	5,896	$	9,420
	International	462		527		1,415		1,680
	Total	$	2,227	$	3,547	$	7,311	$	11,100
Skyrizi	United States	$	2,778	$	1,875	$	6,774	$	4,648
	International	427		251		1,166		721
	Total	$	3,205	$	2,126	$	7,940	$	5,369
Rinvoq	United States	$	1,170	$	801	$	2,912	$	1,895
	International	444		309		1,225		819
	Total	$	1,614	$	1,110	$	4,137	$	2,714
Oncology
Imbruvica	United States	$	618	$	678	$	1,823	$	1,982
	Collaboration revenues	210		230		676		711
	Total	$	828	$	908	$	2,499	$	2,693
Venclexta	United States	$	340	$	281	$	921	$	811
	International	337		309		1,007		888
	Total	$	677	$	590	$	1,928	$	1,699
Elahere(a)	United States	$	139	$	—	$	331	$	—


Epkinly	Collaboration Revenues	$	31	$	14	$	82	$	14
	International	12		—		24		—
	Total	$	43	$	14	$	106	$	14
Aesthetics
Botox Cosmetic	United States	$	414	$	388	$	1,253	$	1,217
	International	257		232		780		747
	Total	$	671	$	620	$	2,033	$	1,964
Juvederm Collection	United States	$	105	$	116	$	349	$	363
	International	153		205		549		681
	Total	$	258	$	321	$	898	$	1,044
Other Aesthetics	United States	$	272	$	255	$	828	$	785
	International	38		43		119		130
	Total	$	310	$	298	$	947	$	915
Neuroscience
Botox Therapeutic	United States	$	708	$	626	$	1,988	$	1,827
	International	140		122		422		388
	Total	$	848	$	748	$	2,410	$	2,215
Vraylar	United States	$	873	$	750	$	2,338	$	1,967
	International	2		1		5		3
	Total	$	875	$	751	$	2,343	$	1,970


		Three months ended September 30,				Nine months ended September 30,

(in millions)		2024		2023		2024		2023
Duodopa	United States	$	24	$	25	$	72	$	74
	International	87		93		267		279
	Total	$	111	$	118	$	339	$	353
Ubrelvy	United States	$	261	$	230	$	685	$	574
	International	8		3		18		7
	Total	$	269	$	233	$	703	$	581
Qulipta	United States	$	168	$	131	$	442	$	292
	International	8		1		15		2
	Total	$	176	$	132	$	457	$	294
Other Neuroscience	United States	$	54	$	55	$	172	$	195
	International	30		6		66		15
	Total	$	84	$	61	$	238	$	210
Eye Care
Ozurdex	United States	$	33	$	34	$	102	$	107
	International	86		86		272		247
	Total	$	119	$	120	$	374	$	354
Lumigan/Ganfort	United States	$	58	$	28	$	129	$	142
	International	58		63		181		198
	Total	$	116	$	91	$	310	$	340
Alphagan/Combigan	United States	$	26	$	30	$	54	$	90
	International	36		40		116		116
	Total	$	62	$	70	$	170	$	206
Restasis	United States	$	8	$	104	$	70	$	265
	International	13		13		40		43
	Total	$	21	$	117	$	110	$	308
Other Eye Care	United States	$	115	$	114	$	351	$	334
	International	92		93		281		288
	Total	$	207	$	207	$	632	$	622
Other Key Products
Mavyret	United States	$	147	$	167	$	458	$	531
	International	155		203		562		590
	Total	$	302	$	370	$	1,020	$	1,121
Creon	United States	$	338	$	305	$	995	$	892
Linzess/Constella	United States	$	225	$	279	$	693	$	799
	International	9		9		28		26
	Total	$	234	$	288	$	721	$	825



All other		$	726	$	782	$	2,280	$	2,214
Total net revenues		$	14,460	$	13,927	$	41,232	$	40,017

(a)Net revenues include ImmunoGen product revenues after the acquisition closing date of February 12, 2024.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

+ Details

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance	$ 6,821	$ 12,898	$ 10,397	$ 17,287
Other comprehensive income (loss)	179	(101)	(29)	(154)
Ending balance	6,071	12,129	6,071	12,129
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			(1,106)	(1,513)
Other comprehensive income (loss) before reclassifications			21	(279)
Net losses (gains) reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income (loss)			21	(279)
Ending balance	(1,085)	(1,792)	(1,085)	(1,792)
Net investment hedging activities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			65	464
Other comprehensive income (loss) before reclassifications			31	156
Net losses (gains) reclassified from accumulated other comprehensive loss			(70)	(67)
Other comprehensive income (loss)			(39)	89
Ending balance	26	553	26	553
Pension and post-employment benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			(1,488)	(1,458)
Other comprehensive income (loss) before reclassifications			(4)	43
Net losses (gains) reclassified from accumulated other comprehensive loss	6	(2)	19	(5)
Other comprehensive income (loss)			15	38
Ending balance	(1,473)	(1,420)	(1,473)	(1,420)
Cash flow hedging activities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			224	308
Other comprehensive income (loss) before reclassifications			20	61
Net losses (gains) reclassified from accumulated other comprehensive loss			(46)	(63)
Other comprehensive income (loss)			(26)	(2)
Ending balance	198	306	198	306
Accumulated other comprehensive income (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Beginning balance			(2,305)	(2,199)
Other comprehensive income (loss) before reclassifications			68	(19)
Net losses (gains) reclassified from accumulated other comprehensive loss			(97)	(135)
Other comprehensive income (loss)			(29)	(154)
Ending balance	$ (2,334)	$ (2,353)	$ (2,334)	$ (2,353)

Licensing, Acquisitions and Other Arrangements - Acquisition of Cerevel Therapeutics (Details) - USD ($) $ / shares in Units, $ in Millions			2 Months Ended	3 Months Ended	8 Months Ended	9 Months Ended
	Aug. 01, 2024	Feb. 12, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition
Payments to Acquire Businesses, Net of Cash Acquired				$ 0		$ 17,493
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill			$ 35,295		$ 35,295	$ 35,295	$ 32,293
Pfizer License Agreement Member
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Aggregate Amount Of Commercial Milestones Payable			1,600
Cerevel Therapeutics
Business Acquisition
Cash consideration paid to shareholders	$ 8,700
Payments to Acquire Businesses, Net of Cash Acquired	8,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and equivalents	361
Short-term investments	382
Prepaid expenses and other current assets	9
Property and equipment, net	25
Investments	121
Intangible assets - In-process research and development	8,100
Other noncurrent assets	31
Current portion of long-term debt	(400)
Accounts payable and accrued liabilities	(100)
Long-term debt	(246)
Deferred income taxes	1,292
Other long-term liabilities	(31)
Total identifiable net assets	6,960
Goodwill	1,702
Total assets acquired and liabilities assumed	8,662
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			(299)
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized			161
Aggregate principal amount of debt	$ 345
Stated interest rate (as a percent)	2.50%
Short-term borrowings	$ (400)
Cash per share received by shareholders of acquired company (in dollars per share)	$ 45.00
Cerevel Therapeutics \| Selling, general and administrative
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Acquisition-related expenses			$ 44
ImmunoGen
Business Acquisition
Cash consideration paid to shareholders		$ 9,800
Payments to Acquire Businesses, Net of Cash Acquired		9,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and equivalents		591
Prepaid expenses and other current assets		40
Property and equipment, net		7
Intangible assets - In-process research and development		1,280
Other noncurrent assets		273
Current portion of long-term debt		(99)
Accounts payable and accrued liabilities		(312)
Deferred income taxes		899
Other long-term liabilities		(47)
Total identifiable net assets		8,541
Goodwill		1,249
Total assets acquired and liabilities assumed		$ 9,790
Net revenues attributable to ImmunoGen from acquisition date					396
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual					(582)
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized					349
Cash per share received by shareholders of acquired company (in dollars per share)		$ 31.26
ImmunoGen \| Selling, general and administrative
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Acquisition-related expenses					$ 59

Equity

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Equity

EquityStock-Based Compensation

Stock-based compensation expense is principally related to awards issued pursuant to the AbbVie 2013 Incentive Stock Program and the AbbVie Amended and Restated 2013 Incentive Stock Program and is summarized as follows:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Cost of products sold	$	12	$	9	$	44	$	38
Research and development	67		53		274		227
Selling, general and administrative	102		68		429		357
Pre-tax compensation expense	181		130		747		622
Tax benefit	(33)		(26)		(127)		(111)
After-tax compensation expense	$	148	$	104	$	620	$	511

In addition to stock-based compensation expense included in the table above and in connection with the acquisitions of ImmunoGen and Cerevel Therapeutics, AbbVie incurred cash-settled, post-closing expense for ImmunoGen and Cerevel Therapeutics employee incentive awards, which is summarized in the table below:


(in millions)	Three months ended September 30, 2024		Nine months ended September 30, 2024
Cost of products sold	$	5	$	36
Research and development	58		184
Selling, general and administrative	98		290


Total post-closing cash settled expense	$	161	$	510

Stock Options

During the nine months ended September 30, 2024, primarily in connection with the company's annual grant, AbbVie granted 0.6 million stock options with a weighted-average grant-date fair value of $31.53. As of September 30, 2024, $8 million of unrecognized compensation cost related to stock options is expected to be recognized as expense over approximately the next two years.

RSUs and Performance Shares

During the nine months ended September 30, 2024, primarily in connection with the company's annual grant, AbbVie granted 5.5 million RSUs and performance shares with a weighted-average grant-date fair value of $176.43. During the nine months ended September 30, 2024 and in connection with the ImmunoGen and Cerevel Therapeutics acquisitions, AbbVie issued 0.6 million RSUs to holders of ImmunoGen and Cerevel Therapeutics equity awards based on a conversion factor described in each of the transaction agreements. See Note 4 for additional information regarding the ImmunoGen and Cerevel Therapeutics acquisitions. As of September 30, 2024, $799 million of unrecognized compensation cost related to RSUs and performance shares is expected to be recognized as expense over approximately the next two years.

Cash Dividends

The following table summarizes quarterly cash dividends declared during 2024 and 2023:


2024				2023
Date Declared	Payment Date	Dividend Per Share		Date Declared	Payment Date	Dividend Per Share
10/30/24	02/14/25	$	1.64	10/26/23	02/15/24	$	1.55
09/06/24	11/15/24	$	1.55	09/08/23	11/15/23	$	1.48
06/21/24	08/15/24	$	1.55	06/22/23	08/15/23	$	1.48
02/15/24	05/15/24	$	1.55	02/16/23	05/15/23	$	1.48

Stock Repurchase Program

The company's stock repurchase authorization permits purchases of AbbVie shares from time to time in open-market or private transactions at management's discretion. The program has no time limit and can be discontinued at any time. Shares repurchased under this program are recorded at acquisition cost, including related expenses, and are available for general corporate purposes.

On February 16, 2023, AbbVie’s board of directors authorized a $5.0 billion increase to the existing stock repurchase authorization. AbbVie repurchased 5 million shares for $959 million during the nine months ended September 30, 2024 and 10 million shares for $1.6 billion during the nine months ended September 30, 2023. AbbVie's remaining stock repurchase authorization was approximately $3.9 billion as of September 30, 2024.

Accumulated Other Comprehensive Loss

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2024:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post-employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2023	$	(1,106)	$	65	$	(1,488)	$	224	$	(2,305)
Other comprehensive income (loss) before reclassifications	21		31		(4)		20		68
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(70)		19		(46)		(97)
Net current-period other comprehensive income (loss)	21		(39)		15		(26)		(29)
Balance as of September 30, 2024	$	(1,085)	$	26	$	(1,473)	$	198	$	(2,334)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2023:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post-employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2022	$	(1,513)	$	464	$	(1,458)	$	308	$	(2,199)
Other comprehensive income (loss) before reclassifications	(279)		156		43		61		(19)
Net gains reclassified from accumulated other comprehensive loss	—		(67)		(5)		(63)		(135)
Net current-period other comprehensive income (loss)	(279)		89		38		(2)		(154)
Balance as of September 30, 2023	$	(1,792)	$	553	$	(1,420)	$	306	$	(2,353)

Other comprehensive loss for the nine months ended September 30, 2023 included foreign currency translation adjustments totaling a loss of $279 million principally due to the impact of the weakening of the Euro on the translation of the company’s Euro-denominated assets and the offsetting impact of net investment hedging activities totaling a gain of $89 million.

The following table presents the impact on AbbVie’s condensed consolidated statements of earnings for significant amounts reclassified out of each component of accumulated other comprehensive loss:


	Three months ended September 30,				Nine months ended September 30,
(in millions) (brackets denote gains)	2024		2023		2024		2023
Net investment hedging activities
Gains on derivative amount excluded from effectiveness testing(a)	$	(32)	$	(28)	$	(90)	$	(85)
Tax expense	7		6		20		18
Total reclassifications, net of tax	$	(25)	$	(22)	$	(70)	$	(67)
Pension and post-employment benefits
Amortization of actuarial losses (gains) and other(b)	$	8	$	(2)	$	25	$	(5)
Tax benefit	(2)		—		(6)		—
Total reclassifications, net of tax	$	6	$	(2)	$	19	$	(5)
Cash flow hedging activities
Gains on foreign currency forward exchange contracts(c)	$	(19)	$	(11)	$	(41)	$	(67)
Gains on treasury rate lock agreements(a)	(6)		(6)		(18)		(18)
Gains on cross-currency swap contracts(d)	—		14		—		6

Tax expense	5		2		13		16
Total reclassifications, net of tax	$	(20)	$	(1)	$	(46)	$	(63)

(a) Amounts are included in interest expense, net (see Note 8).

(b) Amounts are included in the computation of net periodic benefit cost (see Note 9).

(d) Amounts are included in net foreign exchange loss (gain) (see Note 8).

Financial Instruments and Fair Value Measures - Financial Instruments (Details) € in Millions, SFr in Millions, $ in Millions, kr in Billions	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 SEK (kr)	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 CHF (SFr)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 SEK (kr)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 CHF (SFr)	Sep. 30, 2023 EUR (€)	Dec. 31, 2019 USD ($)
Derivative instruments, notional amount and fair value
Amount excluded from the assessment of effectiveness for cash flow hedges	$ 0	$ 0
Amount excluded from the assessment of effectiveness for fair value hedges	0	$ 0
Fair value - Derivatives in asset position	44,000,000						$ 66,000,000
Fair value - Derivatives in liability position	446,000,000						496,000,000
Designated as hedging instrument \| Net investment hedges \| Senior notes
Derivative instruments, notional amount and fair value
Principal amount of unsecured senior notes \| €			€ 3,200					€ 5,400
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments	$ 2,600,000,000						1,800,000,000
Duration of forward exchange contracts	18 months
Approximate length of time over which accumulated gains and losses will be recognized in Cost of products sold	6 months
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	$ 8,000,000						12,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Cash flow hedges \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	45,000,000						32,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments			€ 6,200	kr 1.9	$ 750	SFr 70		€ 4,900	kr 1.4	$ 750	SFr 50
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	12,000,000						13,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	32,000,000						66,000,000
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges \| Other assets
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	0						0
Designated as hedging instrument \| Foreign currency forward exchange contracts \| Net investment hedges \| Other long-term liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	108,000,000						69,000,000
Designated as hedging instrument \| Treasury rate lock agreements \| Cash flow hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments													$ 10,000,000,000.0
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments	3,500,000,000						5,000,000,000.0
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges \| Other assets
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	0						0
Designated as hedging instrument \| Interest rate swap contracts \| Fair value hedges \| Other long-term liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	244,000,000						293,000,000
Designated as hedging instrument \| Cross Currency Swap Contract \| Cash flow hedges
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments \| €												€ 433
Not designated as hedging instrument \| Foreign currency forward exchange contracts
Derivative instruments, notional amount and fair value
Notional amount of derivative instruments	7,700,000,000						7,900,000,000
Not designated as hedging instrument \| Foreign currency forward exchange contracts \| Prepaid expenses and other
Derivative instruments, notional amount and fair value
Fair value - Derivatives in asset position	24,000,000						41,000,000
Not designated as hedging instrument \| Foreign currency forward exchange contracts \| Accounts payable and accrued liabilities
Derivative instruments, notional amount and fair value
Fair value - Derivatives in liability position	$ 17,000,000						$ 36,000,000

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible AssetsGoodwill

The following table summarizes the changes in the carrying amount of goodwill:


(in millions)
Balance as of December 31, 2023	$	32,293
Additions(a)	2,951
Foreign currency translation adjustments	51
Balance as of September 30, 2024	$	35,295

(a) Goodwill additions related to the acquisitions of ImmunoGen and Cerevel Therapeutics (see Note 4).

The company performs its annual goodwill impairment assessment in the third quarter, or earlier if impairment indicators exist. As of September 30, 2024, there were no accumulated goodwill impairment losses.

Intangible Assets, Net

The following table summarizes intangible assets:


	September 30, 2024						December 31, 2023
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Developed product rights	$	81,721	$	(26,723)	$	54,998	$	75,142	$	(22,455)	$	52,687
License agreements	8,316		(6,363)		1,953		8,191		(5,571)		2,620
Total definite-lived intangible assets	90,037		(33,086)		56,951		83,333		(28,026)		55,307
Indefinite-lived intangible assets	9,695		—		9,695		303		—		303
Total intangible assets, net	$	99,732	$	(33,086)	$	66,646	$	83,636	$	(28,026)	$	55,610

Definite-Lived Intangible Assets

The increase in definite-lived intangible assets during 2024 was primarily due to the acquisition of ImmunoGen. The intangible assets will be amortized using the estimated pattern of economic benefit. See Note 4 for additional information regarding the acquisitions.

Amortization expense was $1.9 billion for the three months and $5.7 billion for the nine months ended September 30, 2024 and $2.0 billion for the three months and $6.1 billion for the nine months ended September 30, 2023. Amortization expense was included in cost of products sold in the condensed consolidated statements of earnings.

In August 2023, as part of the Inflation Reduction Act (IRA) of 2022, the company’s oncology product Imbruvica sold in the United States (U.S.) was included on the list of products selected for negotiation by the Centers for Medicare & Medicaid Services. The selection resulted in a significant decrease in the estimated future cash flows for the product and represented a triggering event which required the company to evaluate the underlying definite lived-intangible asset for impairment. The company utilized a discounted cash flow analysis to determine the fair value of $1.9 billion, which was lower than the carrying value of $4.0 billion and resulted in a partial impairment of both the gross and net carrying amount as of August 29, 2023. Based on the revised cash flows, the company recorded a pre-tax impairment charge of $2.1 billion to cost of products sold in the condensed consolidated statement

of earnings for the third quarter of 2023. The fair value measurement was based on Level 3 inputs including estimated net revenues, cost of products sold, R&D costs, selling and marketing costs and discount rate.

Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets represent acquired IPR&D associated with products that have not yet received regulatory approval. The company performs its annual impairment assessment of indefinite-lived intangible assets in the third quarter, or earlier if impairment indicators exist. The increase in indefinite-lived intangible assets during 2024 was primarily due to the acquisitions of ImmunoGen and Cerevel Therapeutics. See Note 4 for additional information regarding the acquisitions.

During the first quarter of 2023, the company made a decision to revise the research and development plan for AGN-151607, a novel investigational neurotoxin for the prevention of postoperative atrial fibrillation in cardiac surgery patients. This decision contributed to a delay in the estimated timing of regulatory approval as well as a significant decrease in estimated future cash flows of the product and represented a triggering event which required the company to evaluate the underlying indefinite-lived intangible asset for impairment. The company utilized a discounted cash flow analysis to estimate the fair value which was below the carrying value of the intangible asset. Based on the revised cash flows, the company recorded a pre-tax impairment charge of $630 million to research and development expense in the condensed consolidated statements of earnings for the first quarter of 2023.

Equity - Cash Dividends (Details) - $ / shares	3 Months Ended
Equity - Cash Dividends (Details) - $ / shares	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Subsequent event
Dividends Payable
Cash dividends declared per common share (in dollars per share)	$ 1.64
Dividend Declared 06.22.2023
Dividends Payable
Cash dividends declared per common share (in dollars per share)							$ 1.48
Dividend Declared 02.16.23
Dividends Payable
Cash dividends declared per common share (in dollars per share)								$ 1.48
Dividend Declared 09.08.2023
Dividends Payable
Cash dividends declared per common share (in dollars per share)						$ 1.48
Dividend Declared 10.26.2023
Dividends Payable
Cash dividends declared per common share (in dollars per share)					$ 1.55
Dividend Declared 02.15.2024
Dividends Payable
Cash dividends declared per common share (in dollars per share)				$ 1.55
Dividend Declared 06.21.24
Dividends Payable
Cash dividends declared per common share (in dollars per share)			$ 1.55
Dividend Declared 09.06.24
Dividends Payable
Cash dividends declared per common share (in dollars per share)		$ 1.55

Equity (Tables)

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Summary of share-based compensation expense


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Cost of products sold	$	12	$	9	$	44	$	38
Research and development	67		53		274		227
Selling, general and administrative	102		68		429		357
Pre-tax compensation expense	181		130		747		622
Tax benefit	(33)		(26)		(127)		(111)
After-tax compensation expense	$	148	$	104	$	620	$	511

Summary of quarterly cash dividends

The following table summarizes quarterly cash dividends declared during 2024 and 2023:


2024				2023
Date Declared	Payment Date	Dividend Per Share		Date Declared	Payment Date	Dividend Per Share
10/30/24	02/14/25	$	1.64	10/26/23	02/15/24	$	1.55
09/06/24	11/15/24	$	1.55	09/08/23	11/15/23	$	1.48
06/21/24	08/15/24	$	1.55	06/22/23	08/15/23	$	1.48
02/15/24	05/15/24	$	1.55	02/16/23	05/15/23	$	1.48

Summary of changes in balances of each component of accumulated other comprehensive loss

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2024:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post-employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2023	$	(1,106)	$	65	$	(1,488)	$	224	$	(2,305)
Other comprehensive income (loss) before reclassifications	21		31		(4)		20		68
Net losses (gains) reclassified from accumulated other comprehensive loss	—		(70)		19		(46)		(97)
Net current-period other comprehensive income (loss)	21		(39)		15		(26)		(29)
Balance as of September 30, 2024	$	(1,085)	$	26	$	(1,473)	$	198	$	(2,334)

The following table summarizes the changes in each component of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2023:


(in millions)	Foreign currency translation adjustments		Net investment hedging activities		Pension and post-employment benefits		Cash flow hedging activities		Total
Balance as of December 31, 2022	$	(1,513)	$	464	$	(1,458)	$	308	$	(2,199)
Other comprehensive income (loss) before reclassifications	(279)		156		43		61		(19)
Net gains reclassified from accumulated other comprehensive loss	—		(67)		(5)		(63)		(135)
Net current-period other comprehensive income (loss)	(279)		89		38		(2)		(154)
Balance as of September 30, 2023	$	(1,792)	$	553	$	(1,420)	$	306	$	(2,353)

Schedule of the significant amounts reclassified out of each component of accumulated other comprehensive loss

The following table presents the impact on AbbVie’s condensed consolidated statements of earnings for significant amounts reclassified out of each component of accumulated other comprehensive loss:


	Three months ended September 30,				Nine months ended September 30,
(in millions) (brackets denote gains)	2024		2023		2024		2023
Net investment hedging activities
Gains on derivative amount excluded from effectiveness testing(a)	$	(32)	$	(28)	$	(90)	$	(85)
Tax expense	7		6		20		18
Total reclassifications, net of tax	$	(25)	$	(22)	$	(70)	$	(67)
Pension and post-employment benefits
Amortization of actuarial losses (gains) and other(b)	$	8	$	(2)	$	25	$	(5)
Tax benefit	(2)		—		(6)		—
Total reclassifications, net of tax	$	6	$	(2)	$	19	$	(5)
Cash flow hedging activities
Gains on foreign currency forward exchange contracts(c)	$	(19)	$	(11)	$	(41)	$	(67)
Gains on treasury rate lock agreements(a)	(6)		(6)		(18)		(18)
Gains on cross-currency swap contracts(d)	—		14		—		6

Tax expense	5		2		13		16
Total reclassifications, net of tax	$	(20)	$	(1)	$	(46)	$	(63)

(a) Amounts are included in interest expense, net (see Note 8).

(b) Amounts are included in the computation of net periodic benefit cost (see Note 9).

(d) Amounts are included in net foreign exchange loss (gain) (see Note 8).

Cash Settled Stock Based Compensation in Connection with Acquisitions


(in millions)	Three months ended September 30, 2024		Nine months ended September 30, 2024
Cost of products sold	$	5	$	36
Research and development	58		184
Selling, general and administrative	98		290


Total post-closing cash settled expense	$	161	$	510

Restructuring Plans (Tables)

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Allergan integration plan

Restructuring charges

Summary of charges associated with integration plan

The following table summarizes the prior year charges associated with the Allergan acquisition integration plan:


(in millions)	Three Months Ended September 30, 2023		Nine Months Ended September 30, 2023
Cost of products sold	$	20		$	66
Research and development	1			2
Selling, general and administrative	39			134
Total charges	$	60		$	202

Other restructuring

Restructuring charges

Summary of cash activity in the restructuring reserve

The following table summarizes the cash activity in the restructuring reserve for the nine months ended September 30, 2024:


(in millions)
Accrued balance as of December 31, 2023	$	196
Restructuring charges	84
Payments and other adjustments	(119)
Accrued balance as of September 30, 2024	$	161

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Historical Presentation The unaudited interim condensed consolidated financial statements of AbbVie Inc. (AbbVie or the company) have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the company’s audited consolidated financial statements and notes included in the company’s Annual Report on Form 10-K for the year ended December 31, 2023. It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of the company’s financial position and operating results. Net revenues and net earnings for any interim period are not necessarily indicative of future or annual results. Certain other reclassifications were made to conform the prior period interim condensed consolidated financial statements to the current period presentation. AbbVie completed its previously announced acquisitions of ImmunoGen, Inc. (ImmunoGen) on February 12, 2024 and Cerevel Therapeutics Holdings, Inc. (Cerevel Therapeutics) on August 1, 2024. See Note 4 and Note 8 for additional information regarding these acquisitions. Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted ASU No. 2023-09 In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes - Improvements to Income Tax Disclosures (Topic 740). The standard requires disaggregation of the effective rate reconciliation into standard categories, enhances disclosure of income taxes paid, and modifies other income tax-related disclosures. The standard will be effective for AbbVie starting in annual periods in 2025, with early adoption permitted. AbbVie is currently assessing the impact of adopting this guidance on its consolidated financial statements. ASU No. 2023-07 In November 2023, the FASB issued ASU No. 2023-07 Segment Reporting - Improving Reportable Segment Disclosures (Topic 280). The standard requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures currently required by Topic 280 to be included in interim periods. The standard is effective for AbbVie starting in annual periods in 2024 and interim periods in 2025, with early adoption permitted and requires retrospective application to all prior periods presented in the financial statements. AbbVie is currently assessing the impact of adopting this guidance on its consolidated financial statements.

Financial Instruments and Fair Value Measures - Significant Level 3 Unobservable Inputs (Details)

Sep. 30, 2024

Dec. 31, 2023

Weighted average | Discount rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

^[1]

0.041

0.045

Weighted average | Probability of payment for royalties by indication

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

^[1],[2]

0.99

Weighted average | Projected year of payments

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

^[1]

2,028

2,027

Minimum | Discount rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.039

0.043

Minimum | Probability of payment for royalties by indication

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

^[2]

0.89

Minimum | Projected year of payments

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

2,024

Maximum | Discount rate

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.051

0.059

Maximum | Probability of payment for royalties by indication

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

^[2]

Maximum | Projected year of payments

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

2,034

Maximum | Probability of payment for royalties excluding approved indications

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Significant unobservable input for contingent consideration

0.89

[1]	(a) Unobservable inputs were weighted by the relative fair value of the contingent consideration liabilities.
[2]	(b) Excluding approved indications, the estimated probability of payment was 89% at December 31, 2023.

Licensing, Acquisitions and Other Arrangements - Acquisition of ImmunoGen (Details) - USD ($) $ / shares in Units, $ in Millions			2 Months Ended		3 Months Ended		8 Months Ended	9 Months Ended
	Aug. 01, 2024	Feb. 12, 2024	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Business Acquisition
Amortization of intangible assets					$ 1,900	$ 2,000		$ 5,726	$ 6,057
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill			$ 35,295		35,295		$ 35,295	35,295		$ 32,293
Pro Forma Information
Payments to Acquire Businesses, Net of Cash Acquired						0		17,493
ImmunoGen
Business Acquisition
Fair value step-up adjustment to inventories		$ 179
Weighted average useful life of acquired intangible assets				12 years
Net revenues attributable to ImmunoGen from acquisition date							396
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual							(582)
Inventory fair value step-up amortization							158
Amortization of intangible assets							113
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and equivalents		591
Accounts receivable		171
Inventories		211
Prepaid expenses and other current assets		40
Property and equipment, net		7
Intangible Assets - Developed product rights		7,200
Business Combination Recognized Identifiable Assets Acquired And Liabilities License Agreements		125
Intangible assets - In-process research and development		1,280
Other noncurrent assets		273
Accounts payable and accrued liabilities		(312)
Current portion of long-term debt		(99)
Deferred income taxes		(899)
Other long-term liabilities		(47)
Total identifiable net assets		8,541
Goodwill		1,249
Total assets acquired and liabilities assumed		9,790
Pro Forma Information
Net revenues					14,460	14,040		41,287	40,263
Net earnings					$ 1,714	$ 1,400		$ 4,583	$ 2,309
Cash consideration paid to shareholders		9,800
Payments to Acquire Businesses, Net of Cash Acquired		9,200
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets		250
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized							349
Intangible Assets - Developed product rights		7,300
Intangible assets, net		$ 1,300
Cash per share received by shareholders of acquired company (in dollars per share)		$ 31.26
ImmunoGen \| Selling, general and administrative
Business Acquisition
Acquisition-related expenses							$ 59
Cerevel Therapeutics
Business Acquisition
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			(299)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and equivalents	$ 361
Prepaid expenses and other current assets	9
Property and equipment, net	25
Intangible assets - In-process research and development	8,100
Other noncurrent assets	31
Accounts payable and accrued liabilities	(100)
Current portion of long-term debt	(400)
Deferred income taxes	(1,292)
Other long-term liabilities	(31)
Total identifiable net assets	6,960
Goodwill	1,702
Total assets acquired and liabilities assumed	8,662
Pro Forma Information
Cash consideration paid to shareholders	8,700
Payments to Acquire Businesses, Net of Cash Acquired	$ 8,300
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized			161
Cash per share received by shareholders of acquired company (in dollars per share)	$ 45.00
Cerevel Therapeutics \| Selling, general and administrative
Business Acquisition
Acquisition-related expenses			$ 44

Financial Instruments and Fair Value Measures - Amount Of Gain/(Loss) Recognized For Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cost of products sold
Gain (loss) on derivatives
Pre-tax gains (losses) to be transferred into cost of products sold for foreign currency cash flow hedges during the next 12 months	$ 6		$ 6
Interest expense, net
Gain (loss) on derivatives
Pre-tax gains (losses) to be transferred into interest expense, net for treasury rate lock agreement cash flow hedges during the next 12 months	21		21
Interest expense, net \| Fair value hedges
Gain (loss) on derivatives
Debt designated as hedged item in fair value hedges gain (loss) recognized in the consolidated statements of earnings	(60)	$ 58	(49)	$ 44
Designated as hedging instrument \| Senior notes
Gain (loss) on derivatives
Pre-tax gains (losses) from net investment hedge instruments recognized in other comprehensive income	(151)	173	56	47
Foreign currency forward exchange contracts \| Designated as hedging instrument
Gain (loss) on derivatives
Pre-tax gains (losses) from cash flow hedges recognized in other comprehensive income	(45)	76	30	81
Pre-tax gains (losses) from net investment hedge instruments recognized in other comprehensive income	(238)	241	(16)	153
Foreign currency forward exchange contracts \| Designated as hedging instrument \| Cash flow hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	$ 19	11	41	$ 67
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of products sold			Cost of products sold
Foreign currency forward exchange contracts \| Designated as hedging instrument \| Net investment hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	$ 32	28	90	$ 85
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Nonoperating			Interest Income (Expense), Nonoperating
Foreign currency forward exchange contracts \| Not designated as hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	$ (30)	(41)	(14)	$ (7)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Gain (Loss), Foreign Currency Transaction, before Tax			Gain (Loss), Foreign Currency Transaction, before Tax
Interest rate swap contracts \| Designated as hedging instrument
Gain (loss) on derivatives
Pre-tax gains (losses) from cash flow hedges recognized in other comprehensive income				$ (63)
Interest rate swap contracts \| Designated as hedging instrument \| Fair value hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	$ 60	(58)	$ 49	$ (44)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Interest Income (Expense), Nonoperating	Interest Income (Expense), Nonoperating
Treasury rate lock agreements \| Designated as hedging instrument \| Cash flow hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	6	$ 6	$ 18	$ 18
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Nonoperating	Interest Income (Expense), Nonoperating
Cross Currency Swap Contract \| Designated as hedging instrument
Gain (loss) on derivatives
Pre-tax gains (losses) from cash flow hedges recognized in other comprehensive income	$ 0	$ (14)	$ 0	$ (5)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Gain (Loss), Foreign Currency Transaction, before Tax	Gain (Loss), Foreign Currency Transaction, before Tax	Gain (Loss), Foreign Currency Transaction, before Tax	Gain (Loss), Foreign Currency Transaction, before Tax
Cross Currency Swap Contract \| Designated as hedging instrument \| Cash flow hedges
Gain (loss) on derivatives
Derivative instrument net gains (losses) recognized in the consolidate statements of earnings	$ 0	$ (14)	$ 0	$ (6)

Financial Instruments and Fair Value Measures (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Summary of amounts and location of derivatives on the condensed consolidated balance sheets

The following table summarizes the amounts and location of AbbVie’s derivative instruments on the condensed consolidated balance sheets:


	Fair value – Derivatives in asset position					Fair value – Derivatives in liability position
(in millions)	Balance sheet caption	September 30, 2024		December 31, 2023		Balance sheet caption	September 30, 2024		December 31, 2023
Foreign currency forward exchange contracts
Designated as cash flow hedges	Prepaid expenses and other	$	8	$	12	Accounts payable and accrued liabilities	$	45	$	32

Designated as net investment hedges	Prepaid expenses and other	12		13		Accounts payable and accrued liabilities	32		66
Designated as net investment hedges	Other assets	—		—		Other long-term liabilities	108		69
Not designated as hedges	Prepaid expenses and other	24		41		Accounts payable and accrued liabilities	17		36


Interest rate swap contracts

Designated as fair value hedges	Other assets	—		—		Other long-term liabilities	244		293
Total derivatives		$	44	$	66		$	446	$	496

Schedule of pre-tax amounts of derivatives designated as cash flow hedges recognized in other comprehensive income (loss)

The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income (loss):


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Foreign currency forward exchange contracts
Designated as cash flow hedges	$	(45)	$	76	$	30	$	81
Designated as net investment hedges	(238)		241		(16)		153
Cross-currency swap contracts designated as cash flow hedges	—		(14)		—		(5)

Schedule of pre-tax amounts of derivatives designated as net investment hedges recognized in other comprehensive income (loss)

The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income (loss):


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Foreign currency forward exchange contracts
Designated as cash flow hedges	$	(45)	$	76	$	30	$	81
Designated as net investment hedges	(238)		241		(16)		153
Cross-currency swap contracts designated as cash flow hedges	—		(14)		—		(5)

Summary of pre-tax amounts and location of derivatives recognized in the condensed consolidated statements of earnings

The following table summarizes the pre-tax amounts and location of derivative instrument net gains (losses) recognized in the condensed consolidated statements of earnings, including the net gains (losses) reclassified out of AOCI into net earnings. See Note 10 for the amount of net gains (losses) reclassified out of AOCI.


		Three months ended September 30,				Nine months ended September 30,
(in millions)	Statement of earnings caption	2024		2023		2024		2023
Foreign currency forward exchange contracts
Designated as cash flow hedges	Cost of products sold	$	19	$	11	$	41	$	67
Designated as net investment hedges	Interest expense, net	32		28		90		85
Not designated as hedges	Net foreign exchange loss (gain)	(30)		(41)		(14)		(7)
Treasury rate lock agreements designated as cash flow hedges	Interest expense, net	6		6		18		18
Cross-currency swap contracts designated as cash flow hedges	Net foreign exchange loss (gain)	—		(14)		—		(6)
Interest rate swap contracts
Designated as fair value hedges	Interest expense, net	60		(58)		49		(44)
Debt designated as hedged item in fair value hedges	Interest expense, net	(60)		58		(49)		44

Summary of bases used to measure assets and liabilities carried at fair value on a recurring basis

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of September 30, 2024:


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	7,257	$	6,080	$	1,177	$	—
Money market funds and time deposits	10		—		10		—
Debt securities	32		—		32		—
Equity securities	100		71		29		—

Foreign currency contracts	44		—		44		—

Total assets	$	7,443	$	6,151	$	1,292	$	—
Liabilities
Interest rate swap contracts	$	244	$	—	$	244	$	—

Foreign currency contracts	202		—		202		—
Financing liability	253		—		—		253
Contingent consideration	21,926		—		—		21,926
Total liabilities	$	22,625	$	—	$	446	$	22,179

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of December 31, 2023:


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	12,814	$	6,223	$	6,591	$	—
Money market funds and time deposits	10		—		10		—
Debt securities	26		—		26		—
Equity securities	111		86		25		—
Foreign currency contracts	66		—		66		—
Total assets	$	13,027	$	6,309	$	6,718	$	—
Liabilities
Interest rate swap contracts	$	293	$	—	$	293	$	—
Foreign currency contracts	203		—		203		—
Contingent consideration	19,890		—		—		19,890
Total liabilities	$	20,386	$	—	$	496	$	19,890

Summary of significant level 3 unobservable inputs

The fair value of the company's contingent consideration liabilities was calculated using the following significant unobservable inputs:


	September 30, 2024		December 31, 2023
	Range	Weighted average(a)	Range	Weighted average(a)
Discount rate	3.9% - 5.1%	4.1%	4.3% - 5.9%	4.5%
Probability of payment for royalties by indication(b)	100% - 100%	100%	89% - 100%	99%

Projected year of payments	2024 - 2034	2028	2024 - 2034	2027

(a) Unobservable inputs were weighted by the relative fair value of the contingent consideration liabilities.

(b) Excluding approved indications, the estimated probability of payment was 89% at December 31, 2023.

Schedule of changes in fair value of Level 3 inputs

The following table presents the changes in fair value of total contingent consideration liabilities which are measured using Level 3 inputs:


	Nine months ended September 30,
(in millions)	2024		2023
Beginning balance	$	19,890	$	16,384
Change in fair value recognized in net earnings	3,492		3,432
Payments	(1,456)		(1,142)
Ending balance	$	21,926	$	18,674

Schedule of book values, approximate fair values and bases used to measure certain financial instruments

The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of September 30, 2024 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities

Current portion of long-term debt and finance lease obligations, excluding fair value hedges	$	12,558	$	12,486	$	12,341	$	145	$	—
Long-term debt and finance lease obligations, excluding fair value hedges	58,500		57,177		56,747		430		—
Total liabilities	$	71,058	$	69,663	$	69,088	$	575	$	—

The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of December 31, 2023 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities

Current portion of long-term debt and finance lease obligations, excluding fair value hedges	$	7,191	$	7,069	$	6,862	$	207	$	—
Long-term debt and finance lease obligations, excluding fair value hedges	52,460		49,541		48,983		558		—
Total liabilities	$	59,651	$	56,610	$	55,845	$	765	$	—

Schedule of Long-Term Debt Instruments

The following table summarizes issued debt in connection with the acquisitions of ImmunoGen and Cerevel Therapeutics:


(in millions)
Senior Notes
	4.80% Senior Notes due 2027	$	2,250
	4.80% Senior Notes due 2029	2,500
	4.95% Senior Notes due 2031	2,000
	5.05% Senior Notes due 2034	3,000
	5.35% Senior Notes due 2044	750
	5.40% Senior Notes due 2054	3,000
	5.50% Senior Notes due 2064	1,500
Total debt issued		$	15,000

Licensing, Acquisitions and Other Arrangements

9 Months Ended

Sep. 30, 2024

Licensing, Acquisitions, and Other Arrangements

Licensing, Acquisitions, and Other Arrangements

Licensing, Acquisitions and Other Arrangements

Proposed Acquisition of Aliada Therapeutics Holdings, Inc.

Subsequent to September 30, 2024, on October 28, 2024, AbbVie announced that it entered into a definitive agreement to acquire Aliada Therapeutics, Inc. (Aliada) including its lead program ALIA-1758. ALIA-1758 is an anti-pyroglutamate amyloid beta (3pE-Aβ) antibody in development for the treatment of Alzheimer’s Disease. Under the terms of the agreement, AbbVie will make an upfront cash payment of approximately $1.4 billion to acquire all outstanding equity of Aliada. Closing of the proposed transaction is subject to regulatory approvals and other customary closing conditions.

Acquisition of Cerevel Therapeutics Holdings, Inc.

On August 1, 2024, AbbVie completed its previously announced acquisition of Cerevel Therapeutics. Cerevel Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of differentiated therapies for neuroscience diseases. Cerevel Therapeutics neuroscience pipeline includes multiple clinical-stage and preclinical candidates with the potential to treat several diseases including schizophrenia, Parkinson's disease and mood disorders. Under the terms of the agreement, AbbVie acquired all outstanding shares of Cerevel Therapeutics for $45.00 per share in cash. The total fair value of the consideration transferred to owners of Cerevel Therapeutics common stock was $8.7 billion ($8.3 billion, net of cash acquired).

The acquisition of Cerevel Therapeutics has been accounted for as a business combination using the acquisition method of accounting. The acquisition method requires, among other things, that assets acquired and liabilities assumed in a business combination be recognized at their fair values as of the acquisition date. The valuation of assets acquired and liabilities assumed has not yet been finalized as of September 30, 2024. As a result, AbbVie recorded preliminary estimates for the fair value of assets acquired and liabilities assumed as of the acquisition date. Finalization of the valuation during the measurement period could result in a change in the amounts recorded for the acquisition date fair value of intangible assets, goodwill and income taxes among other items. The completion of the valuation will occur no later than one year from the acquisition date.

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:


(in millions)
Assets acquired and liabilities assumed
Cash and equivalents	$	361
Short-term investments	382
Prepaid expenses and other current assets	9
Property and equipment, net	25
Investments	121
Intangible assets, net	8,100



Other noncurrent assets	31
Current portion of long-term debt	(400)
Accounts payable and accrued liabilities	(100)
Long-term debt	(246)
Deferred income taxes	(1,292)
Other long-term liabilities	(31)
Total identifiable net assets	6,960
Goodwill	1,702
Total assets acquired and liabilities assumed	$	8,662

Intangible assets relate to $8.1 billion of acquired in-process research and development (IPR&D) associated with products that have not yet received regulatory approval. The estimated fair values of identifiable intangible assets were determined using the "income approach" which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. Some of the more significant assumptions inherent in the development of these asset valuations include the estimated net cash flows for each year for each asset or product, the appropriate discount rate necessary to measure the risk inherent in each future cash flow stream, the life cycle of each asset, the potential regulatory and commercial success risk, competitive trends impacting the asset and each cash flow stream, as well as other factors.

The current portion of long-term debt assumed by AbbVie consists of $345 million aggregate principal of 2.5% convertible senior notes due 2027. Upon acquisition, the convertible senior notes became callable and note holders could redeem the convertible senior notes for cash at a premium. As of the acquisition date, the convertible senior notes were recognized as current portion of long-term debt on the condensed consolidated balance sheets at an aggregate fair value of $400 million. Following the acquisition date, the company repaid the convertible senior notes and there were no amounts outstanding as of September 30, 2024.

Long-term debt assumed by AbbVie relates to funding agreements entered into by Cerevel Therapeutics prior to the acquisition. Under the agreements, Cerevel Therapeutics received funding to support development of tavapadon and agreed to repay regulatory milestones, sales milestones and royalties contingent upon approval of tavapadon by the U.S. Food and Drug Administration (FDA). The funding agreements were accounted for as financing arrangements and the fair value of the related financing liability was $246 million as of the acquisition date. The estimated fair value of the financing liability was determined using a probability-weighted expected payment model for regulatory milestone payments and a Monte Carlo simulation model for sales milestones and royalty payments, which are then discounted to present value. Assumptions inherent in the development of fair value include discount rates, estimated probabilities and timing of achieving milestones and estimated amounts of future sales. See Note 8 for additional information.

Goodwill was calculated as the excess of the consideration transferred over the fair value of net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recognized from the acquisition of Cerevel Therapeutics represents expected synergies, including the ability to: (i) expand AbbVie’s neuroscience pipeline, (ii) leverage AbbVie’s commercial, regulatory and clinical expertise to maximize Cerevel Therapeutic’s assets and (iii) enhance AbbVie’s existing neuroscience discovery capabilities. The goodwill is not deductible for tax purposes.

AbbVie also assumed a licensing agreement entered into by Cerevel Therapeutics with Pfizer Inc. (Pfizer) prior to the acquisition. Under the agreement, Cerevel Therapeutics was granted an exclusive global license under certain Pfizer patent rights to develop, manufacture and commercialize compounds included in Cerevel Therapeutic’s pipeline. AbbVie could make additional payments of up to $1.6 billion upon achievement of certain regulatory and commercial milestones for all programs. Additionally, AbbVie will pay tiered royalties on net revenues.

Following the acquisition date, the operating results of Cerevel Therapeutics have been included in the condensed consolidated financial statements. For the period from the acquisition date through September 30, 2024, operating losses attributable to Cerevel Therapeutics were $299 million, inclusive of $161 million of cash-settled, post-closing expense for Cerevel Therapeutics employee incentive awards. AbbVie also issued 0.3 million RSUs to holders of Cerevel Therapeutics equity awards based on a conversion factor described in the transaction agreement. Stock compensation expense related to RSUs issued at the acquisition date was not significant.

Acquisition-related expenses, which were comprised primarily of regulatory, financial advisory and legal fees, totaled $44 million for the nine months ended September 30, 2024 and were included in selling, general and administrative (SG&A) expense in the condensed consolidated statements of earnings.

Acquisition of ImmunoGen, Inc.

On February 12, 2024, AbbVie completed its previously announced acquisition of ImmunoGen. ImmunoGen is a commercial-stage biotechnology company focused on the discovery, development and commercialization of antibody-drug conjugates (ADC) for cancer patients. ImmunoGen's oncology portfolio includes its flagship cancer therapy Elahere, a first-in-class ADC approved for platinum-resistant ovarian cancer, and a pipeline of promising next-generation ADC's targeting hematologic malignancies and solid tumors. The combination accelerates AbbVie’s entry into the solid tumor space and strengthens its oncology pipeline. Under the terms of the agreement, AbbVie acquired all outstanding shares of ImmunoGen for $31.26 per share in cash. The total fair value of the consideration transferred to owners of ImmunoGen common stock was $9.8 billion ($9.2 billion, net of cash acquired).

The acquisition of ImmunoGen has been accounted for as a business combination using the acquisition method of accounting. The acquisition method requires, among other things, that assets acquired and liabilities assumed in a business combination be recognized at their fair values as of the acquisition date. The valuation of assets acquired and liabilities assumed has not yet been finalized as of September 30, 2024. As a result, AbbVie recorded preliminary estimates for the fair value of assets acquired and liabilities assumed as of the acquisition date. Finalization of the valuation during the measurement period could result in a change in the amounts recorded for the acquisition date fair value of intangible assets, goodwill and income taxes among other items. The completion of the valuation will occur no later than one year from the acquisition date.

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:


(in millions)
Assets acquired and liabilities assumed
Cash and equivalents	$	591
Accounts receivable	171
Inventories	211
Prepaid expenses and other current assets	40
Property and equipment, net	7
Intangible assets, net
Developed product rights	7,200
License agreements	125
Acquired in-process research and development	1,280
Other noncurrent assets	273
Current portion of long-term debt	(99)
Accounts payable and accrued liabilities	(312)
Deferred income taxes	(899)
Other long-term liabilities	(47)
Total identifiable net assets	8,541
Goodwill	1,249
Total assets acquired and liabilities assumed	$	9,790

The fair value step-up adjustment to inventories of $179 million is being amortized to cost of products sold when the inventory is sold to customers, which is expected to be within approximately one year from the acquisition date.

Intangible assets relate to $7.3 billion of definite-lived intangible assets and $1.3 billion of acquired IPR&D associated with products that have not yet received regulatory approval. The acquired definite-lived intangible assets consist of developed product rights and license agreements and are being amortized over a weighted-average estimated useful life of approximately 12 years using the estimated pattern of economic benefit. The estimated fair values of identifiable intangible assets were determined using the "income approach" which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. Some of the more significant assumptions inherent in the development of these asset valuations include the estimated net cash flows for each year for each asset or product, the appropriate discount rate necessary to measure the risk inherent in each future cash flow stream, the life cycle of each asset, the potential regulatory and commercial success risk, competitive trends impacting the asset and each cash flow stream, as well as other factors.

Other noncurrent assets primarily consist of $250 million of deferred tax assets.

The current portion of long-term debt assumed by AbbVie was repaid concurrent with the acquisition at the fair value of $99 million. See Note 8 for additional information.

Goodwill was calculated as the excess of the consideration transferred over the fair value of net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recognized from the acquisition of ImmunoGen represents expected synergies including, the ability to: (i) expand AbbVie’s product portfolio as well as the potential to increase revenue from future growth platforms, (ii) accelerate AbbVie’s clinical and commercial presence in the solid tumor space within oncology, (iii) leverage the respective strengths of each company, and (iv) enhance AbbVie’s existing ADC development efforts. The goodwill is not deductible for tax purposes.

Following the acquisition date, the operating results of ImmunoGen have been included in the condensed consolidated financial statements. For the period from the acquisition date through September 30, 2024, net revenues attributable to ImmunoGen were $396 million and operating losses attributable to ImmunoGen were $582 million, inclusive of $349 million of cash-settled, post-closing expense for ImmunoGen employee incentive awards, $158 million of inventory fair value step-up amortization and $113 million of intangible asset amortization. AbbVie also issued 0.3 million RSUs to holders of ImmunoGen equity awards based on a conversion factor described in the transaction agreement. Stock compensation expense related to RSUs issued at the acquisition date was not significant.

Acquisition-related expenses, which were comprised primarily of regulatory, financial advisory and legal fees, totaled $59 million for the nine months ended September 30, 2024 and were included in SG&A expense in the condensed consolidated statements of earnings.

Pro Forma Financial Information


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Net revenues	$	14,460	$	14,040	$	41,287	$	40,263
Net earnings	1,714		1,400		4,583		2,309

The unaudited pro forma combined financial information was prepared using the acquisition method of accounting and was based on the historical financial information of AbbVie, ImmunoGen and Cerevel Therapeutics. In order to reflect the occurrence of the acquisitions on January 1, 2023 as required, the unaudited pro forma financial information includes adjustments to reflect incremental amortization expense to be incurred based on the current preliminary fair values of the identifiable intangible assets acquired; the incremental cost of products sold related to the fair value adjustments associated with acquisition date inventory; the additional interest expense associated with the issuance of debt to finance the acquisition; and the reclassification of acquisition-related costs incurred during the three and nine months ended September 30, 2024 to the nine months ended September 30, 2023. The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations would have been had the acquisitions been completed on January 1, 2023. In addition, the unaudited pro forma financial information is not a projection of future results of operations of the combined company nor does it reflect the expected realization of any synergies or cost savings associated with the acquisitions.

Other Licensing & Acquisitions Activity

Cash outflows related to other acquisitions and investments totaled $1.2 billion for the nine months ended September 30, 2024 and $670 million for the nine months ended September 30, 2023.

The following table summarizes acquired IPR&D and milestones expense:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Upfront charges	$	82	$	44	$	1,088	$	396
Development milestones	—		22		95		100
Acquired IPR&D and milestones	$	82	$	66	$	1,183	$	496

Celsius Therapeutics, Inc.

In June 2024, AbbVie acquired Celsius Therapeutics, Inc. (Celsius Therapeutics) including its lead pipeline asset CEL383. Celsius Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of precision medicine in inflammatory bowel disease. The transaction was accounted as an asset acquisition as CEL383 represented substantially all of the fair value of the gross assets acquired. The upfront payment of $250 million was recorded in acquired IPR&D and milestones expense in the condensed consolidated statement of earnings in the second quarter of 2024.

AbbVie entered into several other individually insignificant collaborations, licensing agreements or other asset acquisitions in which the related upfront payments were recorded in acquired IPR&D and milestones expense.

Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of worldwide net revenues

The following table details AbbVie’s worldwide net revenues:


		Three months ended September 30,				Nine months ended September 30,

(in millions)		2024		2023		2024		2023
Immunology
Humira	United States	$	1,765	$	3,020	$	5,896	$	9,420
	International	462		527		1,415		1,680
	Total	$	2,227	$	3,547	$	7,311	$	11,100
Skyrizi	United States	$	2,778	$	1,875	$	6,774	$	4,648
	International	427		251		1,166		721
	Total	$	3,205	$	2,126	$	7,940	$	5,369
Rinvoq	United States	$	1,170	$	801	$	2,912	$	1,895
	International	444		309		1,225		819
	Total	$	1,614	$	1,110	$	4,137	$	2,714
Oncology
Imbruvica	United States	$	618	$	678	$	1,823	$	1,982
	Collaboration revenues	210		230		676		711
	Total	$	828	$	908	$	2,499	$	2,693
Venclexta	United States	$	340	$	281	$	921	$	811
	International	337		309		1,007		888
	Total	$	677	$	590	$	1,928	$	1,699
Elahere(a)	United States	$	139	$	—	$	331	$	—


Epkinly	Collaboration Revenues	$	31	$	14	$	82	$	14
	International	12		—		24		—
	Total	$	43	$	14	$	106	$	14
Aesthetics
Botox Cosmetic	United States	$	414	$	388	$	1,253	$	1,217
	International	257		232		780		747
	Total	$	671	$	620	$	2,033	$	1,964
Juvederm Collection	United States	$	105	$	116	$	349	$	363
	International	153		205		549		681
	Total	$	258	$	321	$	898	$	1,044
Other Aesthetics	United States	$	272	$	255	$	828	$	785
	International	38		43		119		130
	Total	$	310	$	298	$	947	$	915
Neuroscience
Botox Therapeutic	United States	$	708	$	626	$	1,988	$	1,827
	International	140		122		422		388
	Total	$	848	$	748	$	2,410	$	2,215
Vraylar	United States	$	873	$	750	$	2,338	$	1,967
	International	2		1		5		3
	Total	$	875	$	751	$	2,343	$	1,970


		Three months ended September 30,				Nine months ended September 30,

(in millions)		2024		2023		2024		2023
Duodopa	United States	$	24	$	25	$	72	$	74
	International	87		93		267		279
	Total	$	111	$	118	$	339	$	353
Ubrelvy	United States	$	261	$	230	$	685	$	574
	International	8		3		18		7
	Total	$	269	$	233	$	703	$	581
Qulipta	United States	$	168	$	131	$	442	$	292
	International	8		1		15		2
	Total	$	176	$	132	$	457	$	294
Other Neuroscience	United States	$	54	$	55	$	172	$	195
	International	30		6		66		15
	Total	$	84	$	61	$	238	$	210
Eye Care
Ozurdex	United States	$	33	$	34	$	102	$	107
	International	86		86		272		247
	Total	$	119	$	120	$	374	$	354
Lumigan/Ganfort	United States	$	58	$	28	$	129	$	142
	International	58		63		181		198
	Total	$	116	$	91	$	310	$	340
Alphagan/Combigan	United States	$	26	$	30	$	54	$	90
	International	36		40		116		116
	Total	$	62	$	70	$	170	$	206
Restasis	United States	$	8	$	104	$	70	$	265
	International	13		13		40		43
	Total	$	21	$	117	$	110	$	308
Other Eye Care	United States	$	115	$	114	$	351	$	334
	International	92		93		281		288
	Total	$	207	$	207	$	632	$	622
Other Key Products
Mavyret	United States	$	147	$	167	$	458	$	531
	International	155		203		562		590
	Total	$	302	$	370	$	1,020	$	1,121
Creon	United States	$	338	$	305	$	995	$	892
Linzess/Constella	United States	$	225	$	279	$	693	$	799
	International	9		9		28		26
	Total	$	234	$	288	$	721	$	825



All other		$	726	$	782	$	2,280	$	2,214
Total net revenues		$	14,460	$	13,927	$	41,232	$	40,017

(a)Net revenues include ImmunoGen product revenues after the acquisition closing date of February 12, 2024.

Financial Instruments and Fair Value Measures - Debt and Credit Facilities (Details) $ in Millions, € in Billions	1 Months Ended						2 Months Ended	3 Months Ended			9 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	May 31, 2024 EUR (€)	May 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jan. 31, 2023 USD ($)	Feb. 28, 2023 USD ($)	Dec. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Feb. 12, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 21, 2023 USD ($)	Dec. 06, 2023 USD ($)
Short-Term Borrowings [Line Items]
Proceeds from Short-Term Debt											$ 5,008	$ 0
Repayments of other short-term borrowings											5,008	$ 0
Subsequent event
Debt and Credit Facilities [Line Items]
Proceeds from (Repayments of) Other Long-Term Debt								$ 2,000
FDA Approval
Debt and Credit Facilities [Line Items]
Payable On Funding Agreement									$ 531		531
Commercial paper
Short-Term Borrowings [Line Items]
Short-term borrowings									0		$ 0			$ 0
Short-Term Debt, Weighted Average Interest Rate, over Time											5.54%
Proceeds from Short-Term Debt									1,700
Repayments of Short-Term Debt									1,700
December 2023 Bridge Credit Facility
Short-Term Borrowings [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity																$ 9,000
364-day Term Loan Credit Agreement
Short-Term Borrowings [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity															$ 5,000
Term loan facilities
Debt and Credit Facilities [Line Items]
Long-Term Debt, Weighted Average Interest Rate, over Time										6.29%
Aggregate principal amount outstanding									2,000		$ 2,000
Floating rate notes due 2023, refinanced \| Term loan facilities
Debt and Credit Facilities [Line Items]
Repayments of long-term debt						$ 1,000
2.8% senior notes due 2023 \| Senior notes
Debt and Credit Facilities [Line Items]
Repayments of long-term debt					$ 350
Stated interest rate (as a percent)						2.80%
Senior Notes Issued in 2024
Debt and Credit Facilities [Line Items]
Debt Issuance Costs, Gross									99		99
Debt Instrument, Unamortized Discount									37		37
Senior Notes Issued in 2024 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt									$ 15,000		$ 15,000		$ 15,000
Senior notes due 2027 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt													2,250
4.80% Senior Notes due 2029 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt													2,500
4.95% Senior Notes due 2031 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt													2,000
5.05% Senior Notes due 2034 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt													3,000
5.35% Senior Notes due 2044 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt													750
5.40% Senior Notes due 2054 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt													3,000
5.50% Senior Notes due 2064 \| Senior notes
Debt and Credit Facilities [Line Items]
Aggregate principal amount of debt													$ 1,500
December 2023 Term Loan Credit Agreement
Debt and Credit Facilities [Line Items]
Debt Instrument, Basis Spread on Variable Rate										0.975%
Short-Term Borrowings [Line Items]
Proceeds from Other Short-Term Debt										$ 5,000
Repayments of other short-term borrowings										$ 5,000
Senior Notes Due 2023 at 2.850 Percent \| Senior notes
Debt and Credit Facilities [Line Items]
Stated interest rate (as a percent)				2.85%
Senior Notes Due 2023 at 2.850 Percent \| Term loan facilities
Debt and Credit Facilities [Line Items]
Repayments of long-term debt				$ (1,000)
1.38% Euro Senior Notes \| Senior notes
Debt and Credit Facilities [Line Items]
Stated interest rate (as a percent)			1.38%
1.38% Euro Senior Notes \| Term loan facilities
Debt and Credit Facilities [Line Items]
Repayments of long-term debt \| €			€ 1.5
Senior Euro Notes Due 2024 At 1.250 Percent [Member] \| Senior notes
Debt and Credit Facilities [Line Items]
Stated interest rate (as a percent)	1.25%	1.25%
Senior Euro Notes Due 2024 At 1.250 Percent [Member] \| Term loan facilities
Debt and Credit Facilities [Line Items]
Repayments of long-term debt \| €		€ 0.7
Senior Euro Notes Due 2024 At 3.85 percent \| Senior notes
Debt and Credit Facilities [Line Items]
Stated interest rate (as a percent)	3.85%	3.85%
Senior Euro Notes Due 2024 At 3.85 percent \| Term loan facilities
Debt and Credit Facilities [Line Items]
Repayments of long-term debt	$ 1,000
2.5% Convertible Senior Note \| Senior notes
Debt and Credit Facilities [Line Items]
Stated interest rate (as a percent)									2.50%		2.50%
Revolving Credit Facility
Short-Term Borrowings [Line Items]
Line of Credit Facility, Expiration Period					5 years		5 years
Line of Credit Facility, Maximum Borrowing Capacity							$ 4,000		$ 5,000		$ 5,000
Long-Term Line of Credit									$ 0		$ 0			$ 0

Segment Information - Additional Information (Details)	9 Months Ended
Segment Information - Additional Information (Details)	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	1

Supplemental Financial Information (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental Financial Information

Schedule of interest expense, net

Interest Expense, Net


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Interest expense	$	720	$	555	$	2,106	$	1,660
Interest income	(129)		(157)		(556)		(354)
Interest expense, net	$	591	$	398	$	1,550	$	1,306

Schedule of inventories

Inventories


(in millions)	September 30, 2024		December 31, 2023
Finished goods	$	1,347	$	1,356
Work-in-process	2,071		1,643
Raw materials	1,032		1,100
Inventories	$	4,450	$	4,099

Schedule of property and equipment, net

Property and Equipment, Net


(in millions)	September 30, 2024		December 31, 2023
Property and equipment, gross	$	12,279	$	11,635
Accumulated depreciation	(7,138)		(6,646)
Property and equipment, net	$	5,141	$	4,989

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,564	$ 1,781	$ 4,309	$ 4,049
Foreign currency translation adjustments, net of tax expense (benefit) of $25 for the three months and $1 the nine months ended September 30, 2024 and $(17) for the three months and $(11) nine months ended September 30, 2023	574	(457)	21	(279)
Net investment hedging activities, net of tax expense (benefit) of $(91) for the three months and $(11) for the nine months ended September 30, 2024 and $84 for the three months and $26 nine months ended September 30, 2023	(330)	302	(39)	89
Pension and post-employment benefits, net of tax expense (benefit) of $(1) for the three months and $3 for the nine months ended September 30, 2024 and $1 for the three months and $11 for the nine months ended September 30, 2023	(3)	2	15	38
Cash flow hedging activities, net of tax expense (benefit) of $(8) for the three months and $(3) for the nine months ended September 30, 2024 and $7 for the three months and $(1) for the nine months ended September 30, 2023	(62)	52	(26)	(2)
Other comprehensive income (loss)	179	(101)	(29)	(154)
Comprehensive income	1,743	1,680	4,280	3,895
Comprehensive income attributable to noncontrolling interest	3	3	9	8
Comprehensive income attributable to AbbVie Inc.	$ 1,740	$ 1,677	$ 4,271	$ 3,887

Equity - Stock Options (Details) - Stock Options $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award
Stock options granted (in shares) \| shares	0.6
Weighted-average grant-date fair value of the stock options granted (in dollars per share) \| $ / shares	$ 31.53
Unrecognized compensation cost \| $	$ 8
Period for recognition of unrecognized compensation cost	2 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
Foreign currency translation adjustments, tax expense (benefit)	$ 25	$ (17)	$ 1	$ (11)
Net investment hedging activities, tax expense (benefit)	(91)	84	(11)	26
Pension and post-employment benefits, tax expense (benefit)	(1)	1	3	11
Cash flow hedging activities, tax expense (benefit)	$ (8)	$ 7	$ (3)	$ (1)

Financial Instruments and Fair Value Measures - Concentrations of Risk (Details) - Accounts receivable, net - wholesaler	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Concentration of Risk
Number of principal customers	3
Geographic risk \| Principal US customers
Concentration of Risk
Concentrations risk (as a percent)	78.00%	81.00%

Supplemental Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Interest Expense, Net
Interest expense	$ 720	$ 555	$ 2,106	$ 1,660
Interest income	(129)	(157)	(556)	(354)
Interest expense, net	591	398	1,550	1,306
Inventories
Finished goods	1,347		1,347		$ 1,356
Work-in-process	2,071		2,071		1,643
Raw materials	1,032		1,032		1,100
Inventories	4,450		4,450		4,099
Property and Equipment
Property and equipment, gross	12,279		12,279		11,635
Accumulated depreciation	(7,138)		(7,138)		(6,646)
Property and equipment, net	5,141		5,141		$ 4,989
Depreciation expense	$ 191	$ 196	$ 558	$ 565

Collaborations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Collaborations (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Collaborative and license agreements
AbbVie's receivable from Janssen	$ 11,472		$ 11,472		$ 11,155
AbbVie's payable to Janssen	30,492		30,492		30,650
Janssen Biotech Inc. \| Collaborative arrangement
Collaborative and license agreements
Milestone payments	200		$ 200
Share of collaboration development costs responsible by Janssen (as a percent)			60.00%
Share of collaboration development costs responsible by the entity (as a percent)			40.00%
Global - AbbVie's share of other costs (included in respective line items)	38	$ 59	$ 120	$ 171
AbbVie's receivable from Janssen	233		233		236
AbbVie's payable to Janssen	282		282		$ 307
Janssen Biotech Inc. \| Collaborative arrangement \| United States
Collaborative and license agreements
Collaboration counterparty's share of collaborative arrangement expenses (included in cost of products sold)	282	316	849	925
Janssen Biotech Inc. \| Collaborative arrangement \| International
Collaborative and license agreements
International - AbbVie's share of profits (included in net revenues)	210	230	676	711
Genentech, Inc. \| Collaborative arrangement
Collaborative and license agreements
Collaboration counterparty's share of collaborative arrangement expenses (included in cost of products sold)	263	225	733	641
AbbVie's share of development costs (included in R&D)	21	24	63	82
Genentech, Inc. \| Collaborative arrangement \| United States
Collaborative and license agreements
AbbVie's share of sales and marketing costs from U.S. collaboration (included in SG&A)	$ 10	$ 13	$ 25	$ 32

Equity - Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense	$ 181	$ 130	$ 747	$ 622
Tax benefit	(33)	(26)	(127)	(111)
After-tax compensation expense	148	104	620	511
Post-closing, cash settled expenses related to acquisitions	161		510
Cost of products sold
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense	12	9	44	38
Post-closing, cash settled expenses related to acquisitions	5		36
Research and development
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense	67	53	274	227
Post-closing, cash settled expenses related to acquisitions	58		184
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax compensation expense	102	$ 68	429	$ 357
Post-closing, cash settled expenses related to acquisitions	$ 98		$ 290

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Oct. 28, 2024
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-35565
Entity Registrant Name	AbbVie Inc.
Entity Central Index Key	0001551152
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0375147
Entity Address, Address Line One	1 North Waukegan Road
Entity Address, City or Town	North Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60064-6400
City Area Code	847
Local Phone Number	932-7900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,767,140,323
NEW YORK STOCK EXCHANGE, INC. \| Common stock
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ABBV
NEW YORK STOCK EXCHANGE, INC. \| Sec 0.750 Senior Notes Due 2027
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	0.750% Senior Notes due 2027
Trading Symbol	ABBV27
NEW YORK STOCK EXCHANGE, INC. \| Sec 2.125 Senior Notes due 2028
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	2.125% Senior Notes due 2028
Trading Symbol	ABBV28
NEW YORK STOCK EXCHANGE, INC. \| Sec 2.625 Senior Notes Due 2028
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	2.625% Senior Notes due 2028
Trading Symbol	ABBV28B
NEW YORK STOCK EXCHANGE, INC. \| Sec 2.125 Senior Notes Due 2029
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	2.125% Senior Notes due 2029
Trading Symbol	ABBV29
NEW YORK STOCK EXCHANGE, INC. \| Sec 1.250 Senior Notes due 2031
Entity Information
Security Exchange Name	NYSE
Title of 12(b) Security	1.250% Senior Notes due 2031
Trading Symbol	ABBV31
CHICAGO STOCK EXCHANGE, INC \| Common stock
Entity Information
Security Exchange Name	CHX
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ABBV

Legal Proceedings and Contingencies	9 Months Ended
Legal Proceedings and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Contingencies	Legal Proceedings and Contingencies AbbVie is subject to contingencies, such as various claims, legal proceedings and investigations regarding product liability, intellectual property, commercial, securities and other matters that arise in the normal course of business. Loss contingency provisions are recorded for probable losses at management’s best estimate of a loss, or when a best estimate cannot be made, a minimum loss contingency amount within a probable range is recorded. The recorded accrual balance for litigation was approximately $2.4 billion as of September 30, 2024 and $2.0 billion as of December 31, 2023. For litigation matters discussed below for which a loss is probable or reasonably possible, the company is unable to estimate the possible loss or range of loss, if any, beyond the amounts accrued. Initiation of new legal proceedings or a change in the status of existing proceedings may result in a change in the estimated loss accrued by AbbVie. While it is not feasible to predict the outcome of all proceedings and exposures with certainty, management believes that their ultimate disposition should not have a material adverse effect on AbbVie’s consolidated financial position, results of operations or cash flows. Subject to certain exceptions specified in the separation agreement by and between Abbott Laboratories (Abbott) and AbbVie, AbbVie assumed the liability for, and control of, all pending and threatened legal matters related to its business, including liabilities for any claims or legal proceedings related to products that had been part of its business, but were discontinued prior to the distribution, as well as assumed or retained liabilities, and will indemnify Abbott for any liability arising out of or resulting from such assumed legal matters. Antitrust Litigation Lawsuits are pending against AbbVie and others generally alleging that the 2005 patent litigation settlement involving Niaspan entered into between Kos Pharmaceuticals, Inc. (a company acquired by Abbott in 2006 and presently a subsidiary of AbbVie) and a generic company violated federal and state antitrust laws and state unfair and deceptive trade practices and unjust enrichment laws. Plaintiffs generally seek monetary damages and/or injunctive relief and attorneys' fees. The lawsuits pending in federal court consist of six individual plaintiff lawsuits and a certified class action by Niaspan direct purchasers. The cases are pending in the United States District Court for the Eastern District of Pennsylvania for coordinated or consolidated pre-trial proceedings under the federal multi-district litigation (MDL) Rules as In re: Niaspan Antitrust Litigation, MDL No. 2460. In October 2016, the Orange County, California District Attorney’s Office filed a lawsuit on behalf of the State of California regarding the Niaspan patent litigation settlement in Orange County Superior Court, asserting a claim under the unfair competition provision of the California Business and Professions Code seeking injunctive relief, restitution, civil penalties and attorneys’ fees. In August 2019, direct purchasers of AndroGel filed a lawsuit, King Drug Co. of Florence, Inc., et al. v. AbbVie Inc., et al., against AbbVie and others in the United States District Court for the Eastern District of Pennsylvania, alleging that 2006 patent litigation settlements and related agreements by Solvay Pharmaceuticals, Inc. (a company Abbott acquired in February 2010 and now known as AbbVie Products LLC) with three generic companies violated federal antitrust law, and also alleging that 2011 patent litigation by Abbott with two generic companies regarding AndroGel was sham litigation and the settlements of those litigations violated federal antitrust law. In September 2024, AbbVie and plaintiffs reached an agreement to resolve this lawsuit. In November 2022, the State of Oregon filed a lawsuit in the Multnomah County, Oregon Circuit Court making similar allegations regarding the 2011 patent litigation with one of the generic companies. Government Proceedings Lawsuits are pending against Allergan and several other manufacturers generally alleging that they improperly promoted and sold prescription opioid products. Approximately 440 lawsuits are pending against Allergan in federal and state courts. Most of the federal court lawsuits are consolidated for pre-trial purposes in the United States District Court for the Northern District of Ohio under the MDL rules as In re: National Prescription Opiate Litigation, MDL No. 2804. Approximately 35 of the lawsuits are pending in various state courts. The plaintiffs in these lawsuits, which include states, counties, cities, other municipal entities, Native American tribes, union trust funds and other third-party payors, private hospitals and personal injury claimants, generally seek compensatory and punitive damages. Of these approximately 440 lawsuits, approximately 30 of them are brought by states, counties, cities, and other municipal entities, approximately 10 of which are in the process of being dismissed pursuant to the previously announced settlement. Another approximately 45 of the approximately 440 lawsuits are covered by a proposed class settlement between Allergan and a class of acute care hospitals, which is subject to court approval and other contingencies. In March 2023, AbbVie Inc. filed a petition in the United States Tax Court, AbbVie Inc. and Subsidiaries v. Commissioner of Internal Revenue. The petition disputes the Internal Revenue Service determination concerning a $572 million income tax benefit recorded in 2014 related to a payment made to a third party for the termination of a proposed business combination. Shareholder and Securities Litigation In October 2018, a federal securities lawsuit, Holwill v. AbbVie Inc., et al., was filed in the United States District Court for the Northern District of Illinois against AbbVie, its chief executive officer and former chief financial officer, alleging that reasons stated for Humira sales growth in financial filings between 2013 and 2018 were misleading because they omitted alleged misconduct in connection with Humira patient and reimbursement support services and other services and items of value that allegedly induced Humira prescriptions. In September 2021, the court granted plaintiffs' motion to certify a class. In May and July 2022, two shareholder derivative lawsuits, Treppel Family Trust v. Gonzalez et al., and Katcher v. Gonzalez, et al., were filed in the United States District Court for the Northern District of Illinois, alleging that certain AbbVie directors and officers breached fiduciary and other legal duties in making or allowing alleged misstatements regarding the potential effect that safety information about another company’s product would have on the Food and Drug Administration’s approval and labeling for AbbVie’s Rinvoq. In October 2024, the court granted defendants’ motion to dismiss without prejudice. Product Liability and General Litigation In April 2023, a putative class action lawsuit, Camargo v. AbbVie Inc., was filed in the United States District Court for the Northern District of Illinois on behalf of Humira patients who paid for Humira based on its list price or who, after losing insurance coverage, discontinued Humira because they could not pay based on its list price, alleging that Humira’s list price is excessive in violation of multiple states’ unfair and deceptive trade practices statutes. The plaintiff generally seeks monetary damages, injunctive relief, and attorneys’ fees. In 2018, a qui tam lawsuit, U.S. ex rel. Silbersher v. Allergan Inc., et al., was filed in the United States District Court for the Northern District of California against several Allergan entities and others, alleging that their conduct before the U.S. Patent Office resulted in false claims for payment being made to federal and state healthcare payors for Namenda XR and Namzaric. The plaintiff-relator sought damages and attorneys' fees under the federal False Claims Act and state law analogues. The federal government and state governments declined to intervene in the lawsuit. In March 2023, the court granted Allergan’s motion to dismiss, dismissing plaintiff-relator’s federal law claims with prejudice and state law claims without prejudice. The plaintiff-relator is appealing the court’s motion to dismiss ruling. Lawsuits are pending against various Allergan entities in the United States and other countries including Brazil, Canada, South Korea, and the Netherlands, in which plaintiffs generally allege that they developed, or may develop, breast implant-associated anaplastic large cell lymphoma (ALCL) or other injuries from Allergan’s Biocell® textured breast implants, which were voluntarily withdrawn from worldwide markets in 2019. Approximately 130 ALCL lawsuits and 1,000 other lawsuits are coordinated for pre-trial purposes in the United States District Court for the District of New Jersey under the MDL rules as In re: Allergan Biocell Textured Breast Implant Product Liability Litigation, MDL No. 2921. Approximately 75 ALCL lawsuits and 460 other lawsuits are pending in various state courts. Approximately 50 ALCL and 800 other lawsuits are pending in other countries. Plaintiffs generally seek monetary damages, medical monitoring, and attorneys’ fees. Intellectual Property Litigation AbbVie Inc. is seeking to enforce patent rights relating to venetoclax (a drug sold under the trademark Venclexta). Litigation was filed in the United States District Court for the District of Delaware in July 2020 against Dr. Reddy’s Laboratories, Ltd. and Dr. Reddy’s Laboratories, Inc. AbbVie alleges defendants’ proposed generic venetoclax products infringe certain patents and seeks declaratory and injunctive relief. Genentech, Inc., which is in a global collaboration with AbbVie concerning the development and marketing of Venclexta, is the co-plaintiff in this suit. AbbVie Inc. is seeking to enforce patent rights relating to upadacitinib (a drug sold under the trademark Rinvoq). Litigation was filed in the United States District Court for the District of Delaware in November 2023 against Hetero USA, Inc., Hetero Labs Limited, Hetero Labs Limited Unit-V, Aurobindo Pharma USA, Inc., Aurobindo Pharma Ltd., Sandoz, Inc. Sandoz Private Limited, Sandoz GMBH, and Sun Pharmaceutical Industries, Ltd. AbbVie alleges defendants’ proposed generic upadacitinib products infringe certain patents and seeks declaratory and injunctive relief. AbbVie Inc. is seeking to enforce patent rights related to ubrogepant (a drug sold under the trademark Ubrelvy). Litigation was filed in the United States District Court for the District of New Jersey in March 2024 against Aurobindo Pharma U.S.A., Inc., Aurobindo Pharma Limited, and Apitoria Pharma Private Limited; Zydus Pharmaceuticals (USA) Inc. and Zydus Lifesciences Limited; MSN Pharmaceuticals Inc., MSN Laboratories Private Limited, and MSN Life Sciences Private Limited; and Hetero USA Inc., Hetero Labs Limited Unit-III, and Hetero Labs Limited. AbbVie alleges defendants’ proposed generic ubrogepant products infringe certain patents and seeks declaratory and injunctive relief. Merck Sharp & Dohme LLC, which exclusively licenses certain patents to AbbVie, is a co-plaintiff in the litigation.

Financial Instruments and Fair Value Measures

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measures

Financial Instruments and Fair Value MeasuresRisk Management Policy

See Note 11 to the company’s Annual Report on Form 10-K for the year ended December 31, 2023 for a summary of AbbVie’s risk management policy and use of derivative instruments.

Financial Instruments

Various AbbVie foreign subsidiaries enter into foreign currency forward exchange contracts to manage exposures to changes in foreign exchange rates for anticipated intercompany transactions denominated in a currency other than the functional currency of the local entity. These contracts, with notional amounts totaling $2.6 billion at September 30, 2024 and $1.8 billion at December 31, 2023, are designated as cash flow hedges and are recorded at fair value. The durations of these forward exchange contracts were generally less than 18 months. Accumulated gains and losses as of September 30, 2024 are reclassified from accumulated other comprehensive income (loss) (AOCI) and included in cost of products sold at the time the products are sold, generally not exceeding six months from the date of settlement.

In 2019, the company entered into treasury rate lock agreements with notional amounts totaling $10.0 billion to hedge exposure to variability in future cash flows resulting from changes in interest rates related to the issuance of long-term debt in connection with the acquisition of Allergan. The treasury rate lock agreements were designated as cash flow hedges and recorded at fair value. The agreements were net settled upon issuance of the senior notes in 2019 and the resulting net gain was recognized in AOCI. This gain is reclassified to interest expense, net over the term of the related debt.

In June 2023, the company entered into a cross-currency swap contract that matured in November 2023 with a notional amount totaling €433 million to hedge the company’s exposure to changes in future cash flows of foreign currency denominated debt related to changes in foreign exchange rates. The cross-currency swap contract was designated as a cash flow hedge and effectively converted the interest and principal payments of the related foreign currency denominated debt to U.S. dollars. The unrealized gains and losses on the contract were included in AOCI and reclassified to net foreign exchange loss over the term of the related debt.

The company also enters into foreign currency forward exchange contracts to manage its exposure to foreign currency denominated trade payables and receivables and intercompany loans. These contracts are not designated as hedges and are recorded at fair value. Resulting gains or losses are reflected in net foreign exchange gain or loss in the condensed consolidated statements of earnings and are generally offset by losses or gains on the foreign currency exposure being managed. These contracts had notional amounts totaling $7.7 billion at September 30, 2024 and $7.9 billion at December 31, 2023.

The company also uses foreign currency forward exchange contracts or foreign currency denominated debt to hedge its net investments in certain foreign subsidiaries and affiliates. The company had an aggregate principal amount of senior Euro notes designated as net investment hedges of €3.2 billion at September 30, 2024 and €5.4 billion at December 31, 2023. In addition, the company had foreign currency forward exchange contracts designated as net investment hedges with notional amounts totaling €6.2 billion, SEK1.9 billion, CAD750 million and CHF70 million at September 30, 2024 and €4.9 billion, SEK1.4 billion, CAD750 million and CHF50 million at December 31, 2023. The company uses the spot method of assessing hedge effectiveness for derivative instruments designated as net investment hedges. Realized and unrealized gains and losses from these hedges are included in AOCI and the initial fair value of hedge components excluded from the assessment of effectiveness is recognized in interest expense, net over the life of the hedging instrument.

The company is a party to interest rate swap contracts designated as fair value hedges with notional amounts totaling $3.5 billion at September 30, 2024 and $5.0 billion at December 31, 2023. The effect of the hedge contracts is to change a fixed-rate interest obligation to a floating rate for that portion of the debt. AbbVie records the contracts at fair value and adjusts the carrying amount of the fixed-rate debt by an offsetting amount.

No amounts are excluded from the assessment of effectiveness for cash flow hedges or fair value hedges.

The following table summarizes the amounts and location of AbbVie’s derivative instruments on the condensed consolidated balance sheets:


	Fair value – Derivatives in asset position					Fair value – Derivatives in liability position
(in millions)	Balance sheet caption	September 30, 2024		December 31, 2023		Balance sheet caption	September 30, 2024		December 31, 2023
Foreign currency forward exchange contracts
Designated as cash flow hedges	Prepaid expenses and other	$	8	$	12	Accounts payable and accrued liabilities	$	45	$	32

Designated as net investment hedges	Prepaid expenses and other	12		13		Accounts payable and accrued liabilities	32		66
Designated as net investment hedges	Other assets	—		—		Other long-term liabilities	108		69
Not designated as hedges	Prepaid expenses and other	24		41		Accounts payable and accrued liabilities	17		36


Interest rate swap contracts

Designated as fair value hedges	Other assets	—		—		Other long-term liabilities	244		293
Total derivatives		$	44	$	66		$	446	$	496

While certain derivatives are subject to netting arrangements with the company’s counterparties, the company does not offset derivative assets and liabilities within the condensed consolidated balance sheets.

The following table presents the pre-tax amounts of gains (losses) from derivative instruments recognized in other comprehensive income (loss):


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Foreign currency forward exchange contracts
Designated as cash flow hedges	$	(45)	$	76	$	30	$	81
Designated as net investment hedges	(238)		241		(16)		153
Cross-currency swap contracts designated as cash flow hedges	—		(14)		—		(5)

Assuming market rates remain constant through contract maturities, the company expects to reclassify pre-tax gains of $6 million into cost of products sold for foreign currency cash flow hedges and pre-tax gains of $21 million into interest expense, net for treasury rate lock agreement cash flow hedges during the next 12 months.

Related to AbbVie’s non-derivative, foreign currency denominated debt designated as net investment hedges, the company recognized in other comprehensive income (loss) pre-tax losses of $151 million for the three months and pre-tax gains of $56 million for the nine months ended September 30, 2024 and pre-tax gains of $173 million for the three months and pre-tax gains of $47 million for the nine months ended September 30, 2023.


		Three months ended September 30,				Nine months ended September 30,
(in millions)	Statement of earnings caption	2024		2023		2024		2023
Foreign currency forward exchange contracts
Designated as cash flow hedges	Cost of products sold	$	19	$	11	$	41	$	67
Designated as net investment hedges	Interest expense, net	32		28		90		85
Not designated as hedges	Net foreign exchange loss (gain)	(30)		(41)		(14)		(7)
Treasury rate lock agreements designated as cash flow hedges	Interest expense, net	6		6		18		18
Cross-currency swap contracts designated as cash flow hedges	Net foreign exchange loss (gain)	—		(14)		—		(6)
Interest rate swap contracts
Designated as fair value hedges	Interest expense, net	60		(58)		49		(44)
Debt designated as hedged item in fair value hedges	Interest expense, net	(60)		58		(49)		44

Fair Value Measures

The fair value hierarchy consists of the following three levels:

•Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets that the company has the ability to access;

•Level 2 – Valuations based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuations in which all significant inputs are observable in the market; and

•Level 3 – Valuations using significant inputs that are unobservable in the market and include the use of judgment by the company’s management about the assumptions market participants would use in pricing the asset or liability.


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	7,257	$	6,080	$	1,177	$	—
Money market funds and time deposits	10		—		10		—
Debt securities	32		—		32		—
Equity securities	100		71		29		—

Foreign currency contracts	44		—		44		—

Total assets	$	7,443	$	6,151	$	1,292	$	—
Liabilities
Interest rate swap contracts	$	244	$	—	$	244	$	—

Foreign currency contracts	202		—		202		—
Financing liability	253		—		—		253
Contingent consideration	21,926		—		—		21,926
Total liabilities	$	22,625	$	—	$	446	$	22,179

The following table summarizes the bases used to measure certain assets and liabilities carried at fair value on a recurring basis on the condensed consolidated balance sheet as of December 31, 2023:


			Basis of fair value measurement
(in millions)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	$	12,814	$	6,223	$	6,591	$	—
Money market funds and time deposits	10		—		10		—
Debt securities	26		—		26		—
Equity securities	111		86		25		—
Foreign currency contracts	66		—		66		—
Total assets	$	13,027	$	6,309	$	6,718	$	—
Liabilities
Interest rate swap contracts	$	293	$	—	$	293	$	—
Foreign currency contracts	203		—		203		—
Contingent consideration	19,890		—		—		19,890
Total liabilities	$	20,386	$	—	$	496	$	19,890

Money market funds and time deposits are valued using relevant observable market inputs including quoted prices for similar assets and interest rate curves. Equity securities primarily consist of investments for which the fair values were determined by using the published market prices per unit multiplied by the number of units held, without consideration of transaction costs. The derivatives entered into by the company were valued using observable market inputs including published interest rate curves and both forward and spot prices for foreign currencies.

The financing liability is related to funding agreements entered into by Cerevel Therapeutics prior to the acquisition and assumed by AbbVie. The funding agreements represent financial instruments that are accounted for as financing arrangements and the company elected to account for the financing liability in accordance with the fair value option, as permitted under ASC 825 Financial Instruments. The fair value measurement of the financing liability was determined based on significant unobservable inputs. Potential payments are estimated by applying a probability-weighted expected payment model for regulatory milestone payments and a Monte Carlo simulation model for sales milestones and royalty payments, which are then discounted to present value. Changes to the fair value of the financing liability can result from changes to one or a number of inputs, including discount rates, estimated probabilities and timing of achieving milestones and estimated amounts of future sales. The change in fair value recognized in net earnings is recorded in other expense (income), net in the condensed consolidated statements of earnings and the change in fair value attributable to instrument-specific credit risk is recognized in other comprehensive loss. Changes in fair value recognized in other expense (income), net and other comprehensive loss for the three months ended September 30, 2024 were not significant.

The fair value measurements of the contingent consideration liabilities were determined based on significant unobservable inputs, including the discount rate, estimated probabilities and timing of achieving specified development, regulatory and commercial milestones and the estimated amount of future sales of the acquired products. The potential contingent consideration payments are estimated by applying a probability-weighted expected payment model for contingent milestone payments and a Monte Carlo simulation model for contingent royalty payments, which are then discounted to present value. Changes to the fair value of the contingent consideration liabilities can result from changes to one or a number of inputs, including discount rates, the probabilities of achieving the milestones, the time required to achieve the milestones and estimated future sales. Significant judgment is employed in determining the appropriateness of certain of these inputs. Changes to the inputs described above could have a material impact on the company's financial position and results of operations in any given period.

The fair value of the company's contingent consideration liabilities was calculated using the following significant unobservable inputs:


	September 30, 2024		December 31, 2023
	Range	Weighted average(a)	Range	Weighted average(a)
Discount rate	3.9% - 5.1%	4.1%	4.3% - 5.9%	4.5%
Probability of payment for royalties by indication(b)	100% - 100%	100%	89% - 100%	99%

Projected year of payments	2024 - 2034	2028	2024 - 2034	2027

(a) Unobservable inputs were weighted by the relative fair value of the contingent consideration liabilities.

(b) Excluding approved indications, the estimated probability of payment was 89% at December 31, 2023.

There have been no transfers of assets or liabilities into or out of Level 3 of the fair value hierarchy. The following table presents the changes in fair value of total contingent consideration liabilities which are measured using Level 3 inputs:


	Nine months ended September 30,
(in millions)	2024		2023
Beginning balance	$	19,890	$	16,384
Change in fair value recognized in net earnings	3,492		3,432
Payments	(1,456)		(1,142)
Ending balance	$	21,926	$	18,674

The change in fair value recognized in net earnings is recorded in other expense (income), net in the condensed consolidated statements of earnings. Contingent consideration payments of amounts up to the initial acquisition date fair value are classified as cash outflows from financing activities and payments of amounts in excess of the initial acquisition date fair value are classified as cash outflows from operating activities in the condensed consolidated statements of cash flows.

Certain financial instruments are carried at historical cost or some basis other than fair value. The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of September 30, 2024 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities

Current portion of long-term debt and finance lease obligations, excluding fair value hedges	$	12,558	$	12,486	$	12,341	$	145	$	—
Long-term debt and finance lease obligations, excluding fair value hedges	58,500		57,177		56,747		430		—
Total liabilities	$	71,058	$	69,663	$	69,088	$	575	$	—

The book values, approximate fair values and bases used to measure the approximate fair values of certain financial instruments as of December 31, 2023 are shown in the table below:


					Basis of fair value measurement
(in millions)	Book value		Approximate fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)



Liabilities

Current portion of long-term debt and finance lease obligations, excluding fair value hedges	$	7,191	$	7,069	$	6,862	$	207	$	—
Long-term debt and finance lease obligations, excluding fair value hedges	52,460		49,541		48,983		558		—
Total liabilities	$	59,651	$	56,610	$	55,845	$	765	$	—

AbbVie also holds investments in equity securities that do not have readily determinable fair values. The company records these investments at cost and remeasures them to fair value based on certain observable price changes or impairment events as they occur. The carrying amount of these investments was $153 million as of September 30, 2024 and $159 million as of December 31, 2023. No significant cumulative upward or downward adjustments have been recorded for these investments as of September 30, 2024.

Concentrations of Risk

Of total net accounts receivable, three U.S. wholesalers accounted for 78% as of September 30, 2024 and 81% as of December 31, 2023, and substantially all of AbbVie’s pharmaceutical product net revenues in the United States were to these three wholesalers.

Debt and Credit Facilities

Financing Related to ImmunoGen and Cerevel Therapeutics Acquisitions

In connection with the acquisitions of ImmunoGen and Cerevel Therapeutics, in February, 2024, the company issued $15.0 billion aggregate principal amount of unsecured senior notes. The notes are unsecured, unsubordinated obligations of AbbVie and will rank equally in right of payment with all of AbbVie’s existing and future unsecured, unsubordinated indebtedness, liabilities and other obligations. AbbVie may redeem the fixed-rate senior notes prior to maturity at a redemption price equal to the greater of the principal amount or the sum of present values of the remaining scheduled payments of principal and interest on the fixed-rate senior notes to be redeemed plus a make-whole premium. AbbVie may also redeem the fixed-rate senior notes at par between one and six months prior to maturity. In connection with the offering, debt issuance costs incurred totaled $99 million and debt discounts totaled $37 million, which are being amortized over the respective terms of the notes to interest expense, net in the condensed consolidated statements of earnings.

AbbVie used the net proceeds received from the issuance of the notes to finance the acquisition of ImmunoGen, repay its term-loan, repay commercial paper borrowings, pay fees and expenses in respect of the foregoing, finance general corporate purposes and, together with cash on hand, fund AbbVie’s acquisition of Cerevel Therapeutics. See Note 4 for additional information.

The following table summarizes issued debt in connection with the acquisitions of ImmunoGen and Cerevel Therapeutics:


(in millions)
Senior Notes
	4.80% Senior Notes due 2027	$	2,250
	4.80% Senior Notes due 2029	2,500
	4.95% Senior Notes due 2031	2,000
	5.05% Senior Notes due 2034	3,000
	5.35% Senior Notes due 2044	750
	5.40% Senior Notes due 2054	3,000
	5.50% Senior Notes due 2064	1,500
Total debt issued		$	15,000

In December 2023, AbbVie entered into a $9.0 billion 364-day bridge credit agreement and $5.0 billion 364-day term loan credit agreement. In February 2024, AbbVie borrowed and repaid $5.0 billion under the term loan credit agreement. Interest charged on this borrowing was based on Secured Overnight Financing Rate Reference Rate (SOFR) +0.975% with an effective interest rate of 6.29%. Subsequent to the $15.0 billion issuance of senior notes, AbbVie terminated both the bridge and term loan credit agreements in the first quarter of 2024. In February 2024, concurrent with the ImmunoGen acquisition, the company assumed and repaid an ImmunoGen senior secured term loan at a fair value of $99 million.

In connection with the acquisition of Cerevel Therapeutics, the company assumed $345 million aggregate principal of 2.5% convertible senior notes due 2027. Upon acquisition, the convertible senior notes became callable and note holders could redeem the convertible senior notes for cash at a premium. As of the acquisition date, the convertible senior notes were recognized as current portion of long-term debt on the condensed consolidated balance sheets at an aggregate fair value of $400 million. Following the acquisition date, the company repaid the convertible senior notes and there were no amounts outstanding as of September 30, 2024.

The company also assumed funding agreements entered into by Cerevel Therapeutics prior to the acquisition. Under the agreements, Cerevel Therapeutics received funding to support development of tavapadon and agreed to repay regulatory milestones, sales milestones and royalties contingent upon approval of tavapadon by the U.S. Food and Drug Administration (FDA). In addition, upon acquisition the company has the option to satisfy payment obligations early by making a payment equal to the amount of funding provided to Cerevel Therapeutics plus a variable premium. In all circumstances, total repayments under the funding agreements will not exceed $531 million in aggregate. The funding agreements were accounted for as financing arrangements and the fair value of the related financing liability was $246 million as of the acquisition date. In conjunction with the funding agreements, AbbVie also assumed security agreements entered into by Cerevel Therapeutics prior to the acquisition pursuant to which Cerevel Therapeutics granted the funding investors a security interest in the assets material to the development and commercialization of tavapadon in the United States.

Other Long-Term Debt

In May 2024, the company repaid a €1.5 billion aggregate principal amount of 1.38% senior euro notes at maturity.

In June 2024, the company repaid a €700 million aggregate principal amount of 1.25% senior euro notes and $1.0 billion aggregate principal amount of 3.85% senior notes at maturity.

Subsequent to September 30, 2024, the company refinanced its $2.0 billion floating rate three-year term loan. As part of the refinancing, the company repaid the existing $2.0 billion term loan due May 2025 and borrowed $2.0 billion under a new term loan due April 2027.

In January 2023, the company repaid a $1.0 billion floating rate three-year term loan that was scheduled to mature in May 2023. In March 2023, the company repaid a $350 million aggregate principal amount of 2.80% senior notes at maturity.

In May 2023, the company repaid $1.0 billion aggregate principal amount of 2.85% senior notes at maturity.

Short-Term Borrowings

During the nine months ended September 30, 2024, the company issued and redeemed $1.7 billion of commercial paper. There were no commercial paper borrowings outstanding as of September 30, 2024 and December 31, 2023. The weighted average interest rate on commercial paper borrowings was 5.54% for the nine months ended September 30, 2024.

In March 2023, AbbVie entered into an amended and restated five-year revolving credit facility. The amendment increased the unsecured revolving credit facility commitments from $4.0 billion to $5.0 billion and extended the maturity date of the facility from August 2023 to March 2028. This amended facility enables the company to borrow funds on an unsecured basis at variable interest rates and contains various covenants. At September 30, 2024, the company was in compliance with all covenants, and commitment fees under the credit facility were insignificant. No amounts were outstanding under the company's credit facilities as of September 30, 2024 and December 31, 2023.

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per share, impact of two-class method

The following table summarizes the impact of the two-class method:


	Three months ended September 30,				Nine months ended September 30,
(in millions, except per share data)	2024		2023		2024		2023
Basic EPS
Net earnings attributable to AbbVie Inc.	$	1,561	$	1,778	$	4,300	$	4,041
Earnings allocated to participating securities	10		11		30		32
Earnings available to common shareholders	$	1,551	$	1,767	$	4,270	$	4,009
Weighted-average basic shares outstanding	1,769		1,767		1,769		1,768
Basic earnings per share attributable to AbbVie Inc.	$	0.88	$	1.00	$	2.41	$	2.27

Diluted EPS
Net earnings attributable to AbbVie Inc.	$	1,561	$	1,778	$	4,300	$	4,041
Earnings allocated to participating securities	10		11		30		32
Earnings available to common shareholders	$	1,551	$	1,767	$	4,270	$	4,009
Weighted-average shares of common stock outstanding	1,769		1,767		1,769		1,768
Effect of dilutive securities	3		4		3		4
Weighted-average diluted shares outstanding	1,772		1,771		1,772		1,772
Diluted earnings per share attributable to AbbVie Inc.	$	0.88	$	1.00	$	2.41	$	2.26

Equity - Amounts Reclassified Out Of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Significant amounts reclassified out of each component of AOCI

Gains on derivative amount excluded from effectiveness testing

$ 591

$ 398

$ 1,550

$ 1,306

Foreign Currency Transaction Gain (Loss), before Tax

(3)

Tax expense (benefit)

520

172

1,676

989

Total reclassifications, net of tax

(1,561)

(1,778)

(4,300)

(4,041)

Losses (gains) on foreign currency forward exchange contracts

4,212

6,485

12,508

14,711

Pension and post-employment benefits

Significant amounts reclassified out of each component of AOCI

Amortization of actuarial losses and other

^[1]

(2)

(5)

Tax benefit

(2)

(6)

Total reclassifications, net of tax

(2)

(5)

Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Total reclassifications, net of tax

(46)

(63)

Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Tax expense (benefit)

Total reclassifications, net of tax

(20)

(1)

(46)

(63)

Reclassification out of accumulated other comprehensive loss | Net investment hedges | Net investment hedging activities

Significant amounts reclassified out of each component of AOCI

Gains on derivative amount excluded from effectiveness testing

^[2]

(32)

(28)

(90)

(85)

Tax expense (benefit)

Total reclassifications, net of tax

(25)

(22)

(70)

(67)

Foreign currency forward exchange contracts | Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Losses (gains) on foreign currency forward exchange contracts

^[3]

(19)

(11)

(41)

(67)

Treasury rate lock agreements | Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Gains on derivative amount excluded from effectiveness testing

^[2]

(6)

(18)

Cross Currency Swap Contract | Reclassification out of accumulated other comprehensive loss | Cash flow hedging activities

Significant amounts reclassified out of each component of AOCI

Foreign Currency Transaction Gain (Loss), before Tax

$ 0

$ 14

$ 0

$ 6

[1]	(b) Amounts are included in the computation of net periodic benefit cost (see Note 9).
[2]	(a) Amounts are included in interest expense, net (see Note 8)
[3]	(c) Amounts are included in cost of products sold (see Note 8).

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock	Treasury Stock, Common	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Noncontrolling interest
Beginning balance at Dec. 31, 2022	$ 17,287	$ 18	$ (4,594)	$ 19,245	$ 4,784	$ (2,199)	$ 33
Beginning balance (in shares) at Dec. 31, 2022		1,769
Increase (Decrease) in Stockholders' Equity
Net earnings attributable to AbbVie Inc.	4,041	$ 0	0	0	4,041	0	0
Other comprehensive income (loss), net of tax	(154)	0	0	0	0	(154)	0
Dividends declared	(7,892)	0	0	0	(7,892)	0	0
Purchases of treasury stock	(1,969)	$ 0	(1,969)	0	0	0	0
Purchases of treasury stock (in shares)		(12)
Stock-based compensation plans and other	814	$ 0	38	776	0	0	0
Stock-based compensation plans and other (in shares)		8
Change in noncontrolling interest	2	$ 0	0	0	0	0	2
Ending balance at Sep. 30, 2023	12,129	$ 18	(6,525)	20,021	933	(2,353)	35
Ending balance (in shares) at Sep. 30, 2023		1,765
Beginning balance at Jun. 30, 2023	12,898	$ 18	(6,528)	19,839	1,789	(2,252)	32
Beginning balance (in shares) at Jun. 30, 2023		1,765
Increase (Decrease) in Stockholders' Equity
Net earnings attributable to AbbVie Inc.	1,778	$ 0	0	0	1,778	0	0
Other comprehensive income (loss), net of tax	(101)	0	0	0	0	(101)	0
Dividends declared	(2,634)	0	0	0	(2,634)	0	0
Purchases of treasury stock	(4)	$ 0	(4)	0	0	0	0
Purchases of treasury stock (in shares)		0
Stock-based compensation plans and other	189	$ 0	7	182	0	0	0
Stock-based compensation plans and other (in shares)		0
Change in noncontrolling interest	3	$ 0	0	0	0	0	3
Ending balance at Sep. 30, 2023	12,129	$ 18	(6,525)	20,021	933	(2,353)	35
Ending balance (in shares) at Sep. 30, 2023		1,765
Beginning balance at Dec. 31, 2023	10,397	$ 18	(6,533)	20,180	(1,000)	(2,305)	37
Beginning balance (in shares) at Dec. 31, 2023		1,766
Increase (Decrease) in Stockholders' Equity
Net earnings attributable to AbbVie Inc.	4,300	$ 0	0	0	4,300	0	0
Other comprehensive income (loss), net of tax	(29)	0	0	0	0	(29)	0
Dividends declared	(8,264)	0	0	0	(8,264)	0	0
Purchases of treasury stock	(1,350)	$ 0	(1,350)	0	0	0	0
Purchases of treasury stock (in shares)		(7)
Stock-based compensation plans and other	1,015	$ 0	35	980	0	0	0
Stock-based compensation plans and other (in shares)		8
Change in noncontrolling interest	2	$ 0	0	0	0	0	2
Ending balance at Sep. 30, 2024	6,071	$ 18	(7,848)	21,160	(4,964)	(2,334)	39
Ending balance (in shares) at Sep. 30, 2024		1,767
Beginning balance at Jun. 30, 2024	6,821	$ 18	(7,838)	20,879	(3,768)	(2,513)	43
Beginning balance (in shares) at Jun. 30, 2024		1,766
Increase (Decrease) in Stockholders' Equity
Net earnings attributable to AbbVie Inc.	1,561	$ 0	0	0	1,561	0	0
Other comprehensive income (loss), net of tax	179	0	0	0	0	179	0
Dividends declared	(2,757)	0	0	0	(2,757)	0	0
Purchases of treasury stock	(17)	$ 0	(17)	0	0	0	0
Purchases of treasury stock (in shares)		0
Stock-based compensation plans and other	288	$ 0	7	281	0	0	0
Stock-based compensation plans and other (in shares)		1
Change in noncontrolling interest	(4)	$ 0	0	0	0	0	(4)
Ending balance at Sep. 30, 2024	$ 6,071	$ 18	$ (7,848)	$ 21,160	$ (4,964)	$ (2,334)	$ 39
Ending balance (in shares) at Sep. 30, 2024		1,767

Post-Employment Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Post-Employment Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined benefit plans
Defined benefit and other post-employment plans
Service cost	$ 71	$ 68	$ 214	$ 203
Interest cost	113	108	339	324
Expected return on plan assets	(196)	(181)	(589)	(543)
Amortization of prior service cost (credit)	0	0	0	1
Amortization of actuarial loss	13	4	39	12
Net periodic benefit cost (credit)	1	(1)	3	(3)
Other post-employment plans
Defined benefit and other post-employment plans
Service cost	11	9	32	27
Interest cost	10	9	31	28
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	(9)	(9)	(27)	(27)
Amortization of actuarial loss	4	3	13	9
Net periodic benefit cost (credit)	$ 16	$ 12	$ 49	$ 37

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	25.00%	9.00%	28.00%	20.00%
U.S. statutory tax rate	21.00%	21.00%
Potential change in unrecognized tax benefits	$ 58		$ 58

Financial Instruments and Fair Value Measures - Transfers of Assets or Liabilities Into or Out of Level 3 of the Fair Value Hierarchy (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Transfers of assets or liabilities between the fair value measurement levels
Transfers of assets into Level 3 of the fair value hierarchy	$ 0
Transfers of assets out of Level 3 of the fair value hierarchy	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net [Abstract]
Transfers of liabilities into Level 3 of the fair value hierarchy	0
Transfers of liabilities out of Level 3 of the fair value hierarchy	0
Reconciliation of the fair value measurements that use significant unobservable inputs (Level 3)
Beginning balance	19,890,000,000	$ 16,384,000,000
Change in fair value recognized in net earnings	3,492,000,000	3,432,000,000
Payments	(1,456,000,000)	(1,142,000,000)
Ending balance	$ 21,926,000,000	$ 18,674,000,000

Licensing, Acquisitions and Other Arrangements (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 28, 2024	Aug. 01, 2024	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Collaborative and license agreements
Cash outflows related to acquisitions and investments						$ (1,232)	$ (670)
Acquired IPR&D and milestones				$ 82	$ 66	1,183	496
Subsequent event
Collaborative and license agreements
Cash consideration paid to shareholders	$ 1,400
Cerevel Therapeutics
Collaborative and license agreements
Cash per share received by shareholders of acquired company (in dollars per share)		$ 45.00
Cash consideration paid to shareholders		$ 8,700
Celsius Therapeutics
Collaborative and license agreements
Cash consideration paid to shareholders			$ 250
Collaborative arrangement
Collaborative and license agreements
Research and development milestone expenses				0	22	95	100
Other Collaboration Arrangements \| Collaborative arrangement
Collaborative and license agreements
Acquired IPR&D and milestones				$ 82	$ 44	$ 1,088	$ 396

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic EPS
Net earnings attributable to AbbVie Inc.	$ 1,561	$ 1,778	$ 4,300	$ 4,041
Earnings allocated to participating securities	10	11	30	32
Earnings available to common shareholders	$ 1,551	$ 1,767	$ 4,270	$ 4,009
Weighted-average basic shares outstanding (in shares)	1,769	1,767	1,769	1,768
Basic earnings per share (in dollars per share)	$ 0.88	$ 1.00	$ 2.41	$ 2.27
Diluted EPS
Net earnings attributable to AbbVie Inc.	$ 1,561	$ 1,778	$ 4,300	$ 4,041
Earnings allocated to participating securities	10	11	30	32
Earnings available to common shareholders	$ 1,551	$ 1,767	$ 4,270	$ 4,009
Weighted-average basic shares outstanding (in shares)	1,769	1,767	1,769	1,768
Effect of dilutive securities (in shares)	3	4	3	4
Weighted-average diluted shares outstanding (in shares)	1,772	1,771	1,772	1,772
Diluted earnings per share (in dollars per share)	$ 0.88	$ 1.00	$ 2.41	$ 2.26

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net revenues	$ 14,460	$ 13,927	$ 41,232	$ 40,017
Cost of products sold	4,212	6,485	12,508	14,711
Selling, general and administrative	4,205	3,372	10,897	9,679
Research and development	2,130	1,723	6,017	5,748
Acquired IPR&D and milestones	82	66	1,183	496
Other operating income	0	0	0	(179)
Total operating costs and expenses	10,629	11,646	30,605	30,455
Operating earnings	3,831	2,281	10,627	9,562
Interest expense, net	591	398	1,550	1,306
Net foreign exchange loss (gain)	(3)	25	2	97
Other expense (income), net	1,159	(95)	3,090	3,121
Earnings before income tax expense	2,084	1,953	5,985	5,038
Income tax expense	520	172	1,676	989
Net earnings	1,564	1,781	4,309	4,049
Net earnings attributable to noncontrolling interest	3	3	9	8
Net earnings attributable to AbbVie Inc.	$ 1,561	$ 1,778	$ 4,300	$ 4,041
Per share data
Basic earnings per share (in dollars per share)	$ 0.88	$ 1.00	$ 2.41	$ 2.27
Diluted earnings per share (in dollars per share)	$ 0.88	$ 1.00	$ 2.41	$ 2.26
Weighted-average basic shares outstanding (in shares)	1,769	1,767	1,769	1,768
Weighted-average diluted shares outstanding (in shares)	1,772	1,771	1,772	1,772

Financial Instruments and Fair Value Measures - Fair Value Measures (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Investment, Type [Extensible Enumeration]	Money Market Funds [Member]	Money Market Funds [Member]
Foreign currency contracts	$ 44	$ 66
Liabilities
Foreign currency contracts	446	496
Quoted prices in active markets for identical assets (Level 1)
Liabilities
Total liabilities	69,088	55,845
Fair Value, Recurring
Assets
Cash and equivalents	7,257	12,814
Money market funds and time deposits	10	10
Debt securities	32	26
Equity securities	100	111
Total assets	7,443	13,027
Liabilities
Interest rate swap contracts	244	293
Noncurrent, Financing liability	253
Contingent consideration	21,926	19,890
Total liabilities	22,625	20,386
Fair Value, Recurring \| Foreign currency contracts
Assets
Foreign currency contracts	44	66
Liabilities
Foreign currency contracts	202	203
Fair Value, Recurring \| Quoted prices in active markets for identical assets (Level 1)
Assets
Cash and equivalents	6,080	6,223
Money market funds and time deposits	0	0
Debt securities	0	0
Equity securities	71	86
Total assets	6,151	6,309
Liabilities
Interest rate swap contracts	0	0
Noncurrent, Financing liability	0
Contingent consideration	0	0
Total liabilities	0	0
Fair Value, Recurring \| Quoted prices in active markets for identical assets (Level 1) \| Foreign currency contracts
Assets
Foreign currency contracts	0	0
Liabilities
Foreign currency contracts	0	0
Fair Value, Recurring \| Significant other observable inputs (Level 2)
Assets
Cash and equivalents	1,177	6,591
Money market funds and time deposits	10	10
Debt securities	32	26
Equity securities	29	25
Total assets	1,292	6,718
Liabilities
Interest rate swap contracts	244	293
Noncurrent, Financing liability	0
Contingent consideration	0	0
Total liabilities	446	496
Fair Value, Recurring \| Significant other observable inputs (Level 2) \| Foreign currency contracts
Assets
Foreign currency contracts	44	66
Liabilities
Foreign currency contracts	202	203
Fair Value, Recurring \| Significant unobservable inputs (Level 3)
Assets
Cash and equivalents	0	0
Money market funds and time deposits	0	0
Debt securities	0	0
Equity securities	0	0
Total assets	0	0
Liabilities
Interest rate swap contracts	0	0
Noncurrent, Financing liability	253
Contingent consideration	21,926	19,890
Total liabilities	22,179	19,890
Fair Value, Recurring \| Significant unobservable inputs (Level 3) \| Foreign currency contracts
Assets
Foreign currency contracts	0	0
Liabilities
Foreign currency contracts	$ 0	$ 0

Goodwill and Intangible Assets - Goodwill (Details)	9 Months Ended
Goodwill and Intangible Assets - Goodwill (Details)	Sep. 30, 2024 USD ($)
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 32,293,000,000
Additions	2,951,000,000
Foreign currency translation adjustments	51,000,000
Balance at the end of the period	35,295,000,000
Accumulated goodwill impairment losses
Accumulated goodwill impairment losses	$ 0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
-Paragraph 100
-Subparagraph (d)
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Financial Instruments and Fair Value Measures - Bases Used To Measure The Approximate Fair Values Of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Liabilities
Carrying amount of investments in equity securities that do not have readily determinable fair values	$ 153	$ 159
Quoted prices in active markets for identical assets (Level 1)
Liabilities
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	12,341	6,862
Long-term debt and finance lease obligations, excluding fair value hedges	56,747	48,983
Total liabilities	69,088	55,845
Book value
Liabilities
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	12,558	7,191
Long-term debt and finance lease obligations, excluding fair value hedges	58,500	52,460
Total liabilities	71,058	59,651
Approximate fair value
Liabilities
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	12,486	7,069
Long-term debt and finance lease obligations, excluding fair value hedges	57,177	49,541
Total liabilities	69,663	56,610
Approximate fair value \| Significant other observable inputs (Level 2)
Liabilities
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	145	207
Long-term debt and finance lease obligations, excluding fair value hedges	430	558
Total liabilities	575	765
Approximate fair value \| Significant unobservable inputs (Level 3)
Liabilities
Current portion of long-term debt and finance lease obligations, excluding fair value hedges	0	0
Long-term debt and finance lease obligations, excluding fair value hedges	0	0
Total liabilities	$ 0	$ 0

Collaborations

9 Months Ended

Sep. 30, 2024

Collaborative Arrangements [Abstract]

Collaborations

The company has ongoing transactions with other entities through collaboration agreements. The following represent the significant collaboration agreements impacting the periods ended September 30, 2024 and 2023.

Collaboration with Janssen Biotech, Inc.

In December 2011, Pharmacyclics, a wholly-owned subsidiary of AbbVie, entered into a worldwide collaboration and license agreement with Janssen Biotech, Inc. and its affiliates (Janssen), one of the Janssen Pharmaceutical companies of Johnson & Johnson, for the joint development and commercialization of Imbruvica, a novel, orally active, selective covalent inhibitor of Bruton’s tyrosine kinase and certain compounds structurally related to Imbruvica, for oncology and other indications, excluding all immune and inflammatory mediated diseases or conditions and all psychiatric or psychological diseases or conditions, in the United States and outside the United States.

The collaboration provides Janssen with an exclusive license to commercialize Imbruvica outside of the United States and co-exclusively with AbbVie in the United States. Both parties are responsible for the development, manufacturing and marketing of any products generated as a result of the collaboration. The collaboration has no set duration or specific expiration date and provides for potential future development, regulatory and approval milestone payments of up to $200 million to AbbVie. The collaboration also includes a cost sharing arrangement for associated collaboration activities. Except in certain cases, Janssen is responsible for approximately 60% of collaboration development costs and AbbVie is responsible for the remaining 40% of collaboration development costs.

In the United States, both parties have co-exclusive rights to commercialize the products; however, AbbVie is the principal in the end-customer product sales. AbbVie and Janssen share pre-tax profits and losses equally from the commercialization of products. Sales of Imbruvica are included in AbbVie's net revenues. Janssen's share of profits is included in AbbVie's cost of products sold. Other costs incurred under the collaboration are reported in their respective expense line items, net of Janssen's share.

Outside the United States, Janssen is responsible for and has exclusive rights to commercialize Imbruvica. AbbVie and Janssen share pre-tax profits and losses equally from the commercialization of products. AbbVie's share of profits is included in AbbVie's net revenues. Other costs incurred under the collaboration are reported in their respective expense line items, net of Janssen's share.

The following table shows the profit and cost sharing relationship between Janssen and AbbVie:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
United States - Janssen's share of profits (included in cost of products sold)	$	282	$	316	$	849	$	925
International - AbbVie's share of profits (included in net revenues)	210		230		676		711
Global - AbbVie's share of other costs (included in respective line items)	38		59		120		171

AbbVie’s receivable from Janssen, included in accounts receivable, net, was $233 million at September 30, 2024 and $236 million at December 31, 2023. AbbVie’s payable to Janssen, included in accounts payable and accrued liabilities, was $282 million at September 30, 2024 and $307 million at December 31, 2023.

Collaboration with Genentech, Inc.

AbbVie and Genentech, Inc. (Genentech), a member of the Roche Group, are parties to a collaboration and license agreement executed in 2007 to jointly research, develop and commercialize human therapeutic products containing BCL-2 inhibitors and certain other compound inhibitors which includes Venclexta, a BCL-2 inhibitor used to treat certain hematological malignancies. AbbVie shares equally with Genentech all pre-tax profits and losses from the development and commercialization of Venclexta in the United States. AbbVie pays royalties on Venclexta net revenues outside the United States.

AbbVie manufactures and distributes Venclexta globally and is the principal in the end-customer product sales. Sales of Venclexta are included in AbbVie’s net revenues. Genentech’s share of United States profits is included in AbbVie’s cost of products sold. AbbVie records sales and marketing costs associated with the United States collaboration as part of SG&A expenses and global development costs as part of research and development (R&D) expenses, net of Genentech’s share. Royalties paid for Venclexta revenues outside the United States are also included in AbbVie’s cost of products sold.

The following table shows the profit and cost sharing relationship between Genentech and AbbVie:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Genentech's share of profits, including royalties (included in cost of products sold)	$	263	$	225	$	733	$	641
AbbVie's share of sales and marketing costs from U.S. collaboration (included in SG&A)	10		13		25		32
AbbVie's share of development costs (included in R&D)	21		24		63		82

Equity - RSUs and Performance Shares (Details) $ / shares in Units, shares in Thousands, $ in Millions	2 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares
RSUs and Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)			5,500
Fair market value of awards vested (in dollars per share) \| $ / shares	$ 176.43	$ 176.43	$ 176.43
Unrecognized compensation cost \| $	$ 799	$ 799	$ 799
Period for recognition of unrecognized compensation cost			2 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (in shares)	300	300	600

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Legal Proceedings and Contingencies (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
Legal Proceedings and Contingencies (Details) $ in Millions	Aug. 31, 2019 company	Sep. 30, 2024 USD ($) claim claims	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) lawsuit claim claims	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Legal Proceedings and Contingencies
Income tax expense \| $		$ 520	$ 172	$ 1,676	$ 989
Estimated Litigation Liability \| $		$ 2,400		$ 2,400		$ 2,000
Niaspan
Legal Proceedings and Contingencies
Number of individual plaintiff lawsuits \| lawsuit				6
AndroGel antitrust litigation, King Drug Co. of Florence, Inc., et al. v. AbbVie Inc., et al.
Legal Proceedings and Contingencies
Number of generic companies with whom certain litigation related agreements were entered into \| company	3
Prescription drug abuse litigation
Legal Proceedings and Contingencies
Number of claims pending		440		440
Prescription drug abuse litigation in state courts
Legal Proceedings and Contingencies
Number of claims pending \| claims		35		35
Tax court petition
Legal Proceedings and Contingencies
Income tax expense \| $					$ 572
Prescription Drug Abuse Litigation In State Courts In process of Being Dismissed
Legal Proceedings and Contingencies
Number of claims pending \| claims		10		10
Product Liability Litigation [Member]
Legal Proceedings and Contingencies
Number of claims pending		130		130
Product Liability Other Litigation
Legal Proceedings and Contingencies
Number of claims pending		1,000		1,000
Product Liability ALCL Litigation in State Court
Legal Proceedings and Contingencies
Number of claims pending		75		75
Product Liability Other Litigation in State Court
Legal Proceedings and Contingencies
Number of claims pending		460		460
Product Liability ALCL Litigation in Other Countries
Legal Proceedings and Contingencies
Number of claims pending		50		50
Product Liability Other Litigation in Other Countries
Legal Proceedings and Contingencies
Number of claims pending		800		800
Prescription Drug Abuse Litigation Covered by a Proposed Class Settlement
Legal Proceedings and Contingencies
Number of claims pending \| claims		45		45
Prescription Drug Abuse Litigation brought by States, Counties, Cities and other Municipal Entities
Legal Proceedings and Contingencies
Number of claims pending \| claims		30		30

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in the carrying amount of goodwill

The following table summarizes the changes in the carrying amount of goodwill:


(in millions)
Balance as of December 31, 2023	$	32,293
Additions(a)	2,951
Foreign currency translation adjustments	51
Balance as of September 30, 2024	$	35,295

(a) Goodwill additions related to the acquisitions of ImmunoGen and Cerevel Therapeutics (see Note 4).

Summary of definite-lived intangible assets

The following table summarizes intangible assets:


	September 30, 2024						December 31, 2023
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Developed product rights	$	81,721	$	(26,723)	$	54,998	$	75,142	$	(22,455)	$	52,687
License agreements	8,316		(6,363)		1,953		8,191		(5,571)		2,620
Total definite-lived intangible assets	90,037		(33,086)		56,951		83,333		(28,026)		55,307
Indefinite-lived intangible assets	9,695		—		9,695		303		—		303
Total intangible assets, net	$	99,732	$	(33,086)	$	66,646	$	83,636	$	(28,026)	$	55,610

Summary of indefinite-lived intangible assets

The following table summarizes intangible assets:


	September 30, 2024						December 31, 2023
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Developed product rights	$	81,721	$	(26,723)	$	54,998	$	75,142	$	(22,455)	$	52,687
License agreements	8,316		(6,363)		1,953		8,191		(5,571)		2,620
Total definite-lived intangible assets	90,037		(33,086)		56,951		83,333		(28,026)		55,307
Indefinite-lived intangible assets	9,695		—		9,695		303		—		303
Total intangible assets, net	$	99,732	$	(33,086)	$	66,646	$	83,636	$	(28,026)	$	55,610

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Aug. 29, 2023
Finite-Lived Intangible Assets
Gross carrying amount	$ 90,037			$ 90,037		$ 83,333
Accumulated amortization	(33,086)			(33,086)		(28,026)
Net carrying amount	56,951			56,951		55,307
Indefinite-lived intangible assets	9,695			9,695		303
Total intangible assets gross carrying amount	99,732			99,732		83,636
Intangible assets, net	66,646			66,646		55,610
Finite-Lived Intangible Assets, Fair Value Disclosure							$ 1,900
Amortization expense	1,900	$ 2,000		5,726	$ 6,057
Indefinite-Lived Intangible Assets [Line Items]
Impairment of intangible assets				0	$ 2,824
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]
Imbruvica
Finite-Lived Intangible Assets
Impairment of Intangible Assets, Finite-Lived		$ 2,100
AGN-151607
Indefinite-Lived Intangible Assets [Line Items]
Impairment of intangible assets			$ 630
Developed product rights
Finite-Lived Intangible Assets
Gross carrying amount	81,721			81,721		75,142
Accumulated amortization	(26,723)			(26,723)		(22,455)
Net carrying amount	54,998			54,998		52,687
Developed product rights \| Imbruvica
Finite-Lived Intangible Assets
Net carrying amount							$ 4,000
License agreements
Finite-Lived Intangible Assets
Gross carrying amount	8,316			8,316		8,191
Accumulated amortization	(6,363)			(6,363)		(5,571)
Net carrying amount	$ 1,953			$ 1,953		$ 2,620

Restructuring Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Restructuring Plans (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Allergan integration plan
Restructuring charges
Incurred total cumulative integration charges					$ 2,500
Allergan integration plan \| Severance and employee benefits
Restructuring charges
Charges associated with integration or restructuring plans		$ 60		$ 202
Allergan integration plan \| Cost of products sold
Restructuring charges
Charges associated with integration or restructuring plans		20		66
Allergan integration plan \| Research and development
Restructuring charges
Charges associated with integration or restructuring plans		1		2
Allergan integration plan \| Selling, general and administrative
Restructuring charges
Charges associated with integration or restructuring plans		39		134
Other restructuring
Restructuring charges
Charges associated with integration or restructuring plans	$ 30	$ 10	$ 94	$ 55
Restructuring reserve rollforward
Accrued balance beginning of the period			196
Restructuring charges			84
Payments and other adjustments			(119)
Accrued balance end of the period	$ 161		$ 161

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Net earnings	$ 4,309	$ 4,049
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation	558	565
Amortization of intangible assets	5,726	6,057
Deferred income taxes	(682)	(1,498)
Change in fair value of contingent consideration liabilities	3,492	3,432
Payment for Contingent Consideration Liability, Operating Activities	(1,456)	(407)
Stock-based compensation	747	622
Acquired IPR&D and milestones	1,183	496
Non-cash litigation reserve adjustments, net of cash payments	341	(205)
Impairment of intangible assets	0	2,824
Other, net	(75)	(219)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(180)	(273)
Inventories	(191)	(513)
Prepaid expenses and other assets	461	394
Accounts payable and other liabilities	(1,070)	3,661
Income tax assets and liabilities, net	(1,405)	(899)
Cash flows from operating activities	11,758	18,086
Cash flows from investing activities
Payments to Acquire Businesses, Net of Cash Acquired	(17,493)
Other acquisitions and investments	(1,232)	(670)
Acquisitions of property and equipment	(683)	(572)
Purchases of investment securities	(46)	(43)
Sales and maturities of investment securities	516	41
Other, net	(8)	35
Cash flows from investing activities	(18,946)	(1,209)
Cash flows from financing activities
Proceeds from Short-Term Debt	5,008	0
Repayments of other short-term borrowings	(5,008)	0
Proceeds from issuance of long-term debt	14,963
Repayments of long-term debt and finance lease obligations	(3,851)	(2,355)
Payments of Debt Issuance Costs	(99)	0
Dividends paid	(8,273)	(7,913)
Purchases of treasury stock	(1,350)	(1,969)
Proceeds from the exercise of stock options	204	149
Payments of contingent consideration liabilities	0	(735)
Other, net	56	50
Cash flows from financing activities	1,650	(12,773)
Effect of exchange rate changes on cash and equivalents	(19)	(18)
Net change in cash and equivalents	(5,557)	4,086
Cash and equivalents, beginning of period	12,814	9,201
Cash and equivalents, end of period	$ 7,257	$ 13,287

Collaborations (Tables)

9 Months Ended

Sep. 30, 2024

Janssen Biotech Inc.

Collaborative and license agreements

Schedule of profit and cost sharing relationship

The following table shows the profit and cost sharing relationship between Janssen and AbbVie:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
United States - Janssen's share of profits (included in cost of products sold)	$	282	$	316	$	849	$	925
International - AbbVie's share of profits (included in net revenues)	210		230		676		711
Global - AbbVie's share of other costs (included in respective line items)	38		59		120		171

Genentech, Inc.

Collaborative and license agreements

Schedule of profit and cost sharing relationship

The following table shows the profit and cost sharing relationship between Genentech and AbbVie:


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Genentech's share of profits, including royalties (included in cost of products sold)	$	263	$	225	$	733	$	641
AbbVie's share of sales and marketing costs from U.S. collaboration (included in SG&A)	10		13		25		32
AbbVie's share of development costs (included in R&D)	21		24		63		82

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 25% for the three months and 28% for the nine months ended September 30, 2024 compared to 9% for the three months and 20% for the nine months ended September 30, 2023. The effective tax rate in each period differed from the U.S. statutory tax rate of 21% principally due to the impact of foreign operations which reflects the impact of lower income tax rates in locations outside the United States, changes in fair value of contingent consideration and business development activities, including ImmunoGen and Cerevel Therapeutics acquisition-related costs. The increase in the effective tax rate for the three months ended September 30, 2024 over the prior year was primarily due to changes in fair value of contingent consideration, impact of foreign operations and business development activities. The increase in the effective tax rate for the nine months ended September 30, 2024 over the prior year was primarily due to the impact of foreign operations and business development activities. It is reasonably possible that the company’s gross unrecognized tax benefits balance may change within the next 12 months by up to $58 million in connection with statute of limitation expirations. The company has various federal, state and foreign examinations ongoing. Finalizing examinations with the relevant taxing authorities can include formal administrative and legal proceedings, and as a result, we cannot reasonably estimate the timing of resolution for certain unrecognized tax benefits. Subsequent to September 30, 2024, the company was notified that the administrative proceeding related to its U.S. federal income tax examination for certain tax years was substantially completed. Final resolution of examination of such years may occur in the fourth quarter of 2024. The company anticipates that final resolution will result in a decrease in the gross amount of unrecognized tax benefits on the condensed consolidated balance sheets and recognition of an income tax benefit in the condensed consolidated statement of earnings, which could be material. The Company does not anticipate that such resolution will have a significant impact on its cash flows.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Post-Employment Benefits (Tables)

9 Months Ended

Sep. 30, 2024

Postemployment Benefits [Abstract]

Summary of net periodic benefit costs relating to the company's defined benefit and other post-employment plans

The following table summarizes net periodic benefit cost relating to the company’s defined benefit and other post-employment plans:


	Defined benefit plans								Other post- employment plans
	Three months ended September 30,				Nine months ended September 30,				Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023		2024		2023		2024		2023
Service cost	$	71	$	68	$	214	$	203	$	11	$	9	$	32	$	27
Interest cost	113		108		339		324		10		9		31		28
Expected return on plan assets	(196)		(181)		(589)		(543)		—		—		—		—
Amortization of prior service cost (credit)	—		—		—		1		(9)		(9)		(27)		(27)
Amortization of actuarial loss	13		4		39		12		4		3		13		9
Net periodic benefit cost (credit)	$	1	$	(1)	$	3	$	(3)	$	16	$	12	$	49	$	37

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and equivalents	$ 7,257	$ 12,814
Short-term investments	28	2
Accounts receivable, net	11,472	11,155
Inventories	4,450	4,099
Prepaid expenses and other	4,578	4,932
Total current assets	27,785	33,002
Investments	267	304
Property and equipment, net	5,141	4,989
Intangible assets, net	66,646	55,610
Goodwill	35,295	32,293
Other assets	8,288	8,513
Total assets	143,422	134,711
Current liabilities
Current portion of long-term debt and finance lease obligations	12,570	7,191
Accounts payable and accrued liabilities	30,492	30,650
Total current liabilities	43,062	37,841
Long-term debt and finance lease obligations	58,509	52,194
Deferred income taxes	2,749	1,952
Other long-term liabilities	33,031	32,327
Commitments and contingencies
Stockholders' equity
Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,831,415,039 shares issued as of September 30, 2024 and 1,823,046,087 as of December 31, 2023	18	18
Common stock held in treasury, at cost, 64,310,426 shares as of September 30, 2024 and 57,105,354 as of December 31, 2023	(7,848)	(6,533)
Additional paid-in capital	21,160	20,180
Accumulated deficit	(4,964)	(1,000)
Accumulated other comprehensive loss	(2,334)	(2,305)
Total stockholders' equity	6,032	10,360
Noncontrolling interest	39	37
Total equity	6,071	10,397
Total liabilities and equity	$ 143,422	$ 134,711

Supplemental Financial Information

9 Months Ended

Sep. 30, 2024

Supplemental Financial Information

Supplemental Financial Information

Supplemental Financial InformationInterest Expense, Net


	Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023
Interest expense	$	720	$	555	$	2,106	$	1,660
Interest income	(129)		(157)		(556)		(354)
Interest expense, net	$	591	$	398	$	1,550	$	1,306

Inventories


(in millions)	September 30, 2024		December 31, 2023
Finished goods	$	1,347	$	1,356
Work-in-process	2,071		1,643
Raw materials	1,032		1,100
Inventories	$	4,450	$	4,099

Property and Equipment, Net


(in millions)	September 30, 2024		December 31, 2023
Property and equipment, gross	$	12,279	$	11,635
Accumulated depreciation	(7,138)		(6,646)
Property and equipment, net	$	5,141	$	4,989

Depreciation expense was $191 million for the three months and $558 million for the nine months ended September 30, 2024 and $196 million for the three months and $565 million for the nine months ended September 30, 2023.

Post-Employment Benefits

9 Months Ended

Sep. 30, 2024

Postemployment Benefits [Abstract]

Post-Employment Benefits

The following table summarizes net periodic benefit cost relating to the company’s defined benefit and other post-employment plans:


	Defined benefit plans								Other post- employment plans
	Three months ended September 30,				Nine months ended September 30,				Three months ended September 30,				Nine months ended September 30,
(in millions)	2024		2023		2024		2023		2024		2023		2024		2023
Service cost	$	71	$	68	$	214	$	203	$	11	$	9	$	32	$	27
Interest cost	113		108		339		324		10		9		31		28
Expected return on plan assets	(196)		(181)		(589)		(543)		—		—		—		—
Amortization of prior service cost (credit)	—		—		—		1		(9)		(9)		(27)		(27)
Amortization of actuarial loss	13		4		39		12		4		3		13		9
Net periodic benefit cost (credit)	$	1	$	(1)	$	3	$	(3)	$	16	$	12	$	49	$	37

The components of net periodic benefit cost other than service cost are included in other expense (income), net in the condensed consolidated statements of earnings.

Earnings Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareAbbVie grants certain restricted stock units (RSUs) that are considered to be participating securities. Due to the presence of participating securities, AbbVie calculates earnings per share (EPS) using the more dilutive of the treasury stock or the two-class method. For all periods presented, the two-class method was more dilutive.

The following table summarizes the impact of the two-class method:


	Three months ended September 30,				Nine months ended September 30,
(in millions, except per share data)	2024		2023		2024		2023
Basic EPS
Net earnings attributable to AbbVie Inc.	$	1,561	$	1,778	$	4,300	$	4,041
Earnings allocated to participating securities	10		11		30		32
Earnings available to common shareholders	$	1,551	$	1,767	$	4,270	$	4,009
Weighted-average basic shares outstanding	1,769		1,767		1,769		1,768
Basic earnings per share attributable to AbbVie Inc.	$	0.88	$	1.00	$	2.41	$	2.27

Diluted EPS
Net earnings attributable to AbbVie Inc.	$	1,561	$	1,778	$	4,300	$	4,041
Earnings allocated to participating securities	10		11		30		32
Earnings available to common shareholders	$	1,551	$	1,767	$	4,270	$	4,009
Weighted-average shares of common stock outstanding	1,769		1,767		1,769		1,768
Effect of dilutive securities	3		4		3		4
Weighted-average diluted shares outstanding	1,772		1,771		1,772		1,772
Diluted earnings per share attributable to AbbVie Inc.	$	0.88	$	1.00	$	2.41	$	2.26

Certain shares issuable under stock-based compensation plans were excluded from the computation of EPS because the effect would have been antidilutive. The number of common shares excluded was insignificant for all periods presented.